Itc reversal

Hi friends,

I need some clarifications on TNVAT act, that one of ma client engaged in Textiles & Readymades retail business.

He filed the return form I for the period 01.04.2010 to 31.03.2011 on 18/06/2011 along with C fees n interest, but the VAT due was paid much earlier on 30.03.2011 by cash (due to yearend target RI has collected and issued receipt) . The AO has issued the notice on 28/06/2011 stated that ITC claims during the FY 2010-11 was not eligible due to the return was filed delay and cal'd for the reply. We have given satisfactory reply in person and the issue was solved that time. After that incident the assessee is filing the returns regularly in time.

Hence the same AO is now demanding to pay ITC reversal amount as due and denied/refusing to issue C forms (inrealted to the period of over 3 years). I had told him to raise demand based on notice issued before 2 years, but he is avoiding / refusing to do such thing. Anyway he’s denying to issue C forms.

Is the AO ITC reversal is right?

Is there any provision to raise demand now, based on the notice issued before 2 years?

Is the AO having powers to reject C forms request?

Kindly clarify and suggest me to handle this situation.

 

Thanks

With regards,

 

Yogi

 

Replies (1)

1. AO CANNOT REVERSE ITC

2. IF NOTICES WAS ISSUED 2 YR BACK WHICH WAS RESOLVED

3. NO. AO CANNOT DENY C FORM DUE TO ABOVE REASON

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