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Input tax Query

Pavan Kumar Soma (Proprietor) (37 Points)

23 April 2010

Hi Friends,

I have registered a company on 1st august 2009 in Bangalore-TIN & CST. where i have purchased some equipments from Voltas on 25th of august 2009 (I have paid 12.5% VAT for the same), which i am going to sell it to third party. can i submit the same to claim input tax, while filing my returns for this year (2009-10) march returns. one of my friend told, it's not possible to do the same, becasue its august transaction. kindly help me with the best possible way to claim the same.

Note: I am filing my returns every quarter and this bill is for the month of august.

Thanks n regards,

Pavan Kumar Soma

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7 Replies

vishnupriya (CA Final) (1418 Points)
Replied 23 April 2010

I think by using Form Vat 15 you can avail the input tax credit. Generally it is used for brought forward of excess credit. But please confirm about this.

subramanya (Professional) (907 Points)
Replied 23 April 2010

Dear Mr.Pavan,

During the second quarter, if you have shown these goods as your purchases in the returns, either you can carry forward the excess input tax credit or claim Refund while filing second quarter returns.

If you have not shown these purchases in the second quarter returns, directly it is not possible to show and claim the same.

however, you can file revised returns for second quarter (check the possiblities) and claim the Input tax credit.

Subramanya

CA Mohit kumar jain (Searching Source of Money) (149 Points)
Replied 23 April 2010

i also agree with mr, subramanya

&i think u can't fill revised return because its last date is next quarter's return due date or return filled of next qtr whichever is earliar

ashok sharma (manager) (25 Points)
Replied 23 April 2010

I would like to know if a export oriented manufacturing unit pay commission to foreign or Indian agents

is it under the purview of service tax and secondly can input tax credit can be availed for the service tax

paid by the unit on various services received by it.

From which web site I can see the latest notification issued in respect of Indian budget 2010-11 notification for excise and service tax as www.cbec .com not showing the latest notification issued

following the budget.

with best regards,

Ashok Sharma

Ambrish Kumar Srivastava (Sr. General Manager - Taxation) (22 Points)
Replied 03 May 2012

WHO WILL TAKE INPUT TAX CREDIT IF WE DELIVER THE MATERIAL WITHIN STATE WITH VAT BUT BILLING TO OUT OF STATE. FOR EXAMPLE:

A (DELHI) RECEIVED ORDER FROM B (GUJARAT) FOR DELIVERING MATERIAL TO C AT DELHI AS PER TERMS & CONDITIONS OF PURCHASE ORDER.

A DELIVER THE MATERIAL TO C AT DELHI WITH CHARGING VAT ON INVOICE AND MAKE BILLING ADDRESS TO B (GUJARAT) AND DELIVERY AT C (DELHI). IT IS LOCAL SALE BECAUSE WE CHARGE TAX AS PER MOVEMENT OF GOODS. BUT I WANT TO ASK IN THIS MATTER THAT WHO WILL TAKE INPUT TAX CREDIT BECAUSE WE CHARGE VAT AND GOODS ALSO MOVED WITHIN STATE.

KINDLY SUGGEST.

AMBRISH

Ambrish Kumar Srivastava (Sr. General Manager - Taxation) (22 Points)
Replied 04 May 2012

Originally posted by : Ambrish Srivastava
	WHO WILL TAKE INPUT TAX CREDIT IF WE DELIVER THE MATERIAL WITHIN STATE WITH VAT BUT BILLING TO OUT OF STATE. FOR EXAMPLE: A (DELHI) RECEIVED ORDER FROM B (GUJARAT) FOR DELIVERING MATERIAL TO C AT DELHI AS PER TERMS & CONDITIONS OF PURCHASE ORDER. A DELIVER THE MATERIAL TO C AT DELHI WITH CHARGING VAT ON INVOICE AND MAKE BILLING ADDRESS TO B (GUJARAT) AND DELIVERY AT C (DELHI). IT IS LOCAL SALE BECAUSE WE CHARGE TAX AS PER MOVEMENT OF GOODS. BUT I WANT TO ASK IN THIS MATTER THAT WHO WILL TAKE INPUT TAX CREDIT BECAUSE WE CHARGE VAT AND GOODS ALSO MOVED WITHIN STATE. KINDLY SUGGEST. AMBRISH

Sunil Kumar G (AGM Taxation) (373 Points)
Replied 05 May 2012

The buyer is the owner of the goods are eligible for taking input Tax Credit. Here B is in Gujarat is the buyer but stock delivered to C In Delhi. B Cant take input tax credit becuase VAT is paid to Delhi Government and not to Gujarat Government. C is not the ultimate owner of the goods and C Also can't take input Tax Credit. So neither B or C is eligible for Input Tax Credit. If A can raise Bill directly to C, then C can take credit.