XYZ a partnership has no closing stock on 30/06/2017 but has a vat credit of 120000/- standing with the state govt. The credit is accumulated is because of the exports done by it in the previous year. How can it avail the credit of the amount standing to its credit ?
Also can it has to claim refund from VAT Authority or can it claim the credit as SGST ?
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ITC on stock
Replies (4)
Dear As per MP VAT you can claim refund in VAT in Cash or you may Carrie forward it to your SGST CREDIT LEDGER ACCOUNT. IF YOU NOT
want to carry business then u should take refund from your VAT DEPARTMENT
Any difference in MAHATASHTRA VAT . IF YOU KNOW
THANK YOU LOADS
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