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Reversal of excess vat credit


T S D ( )     21 May 2012

T S D
 
 21 likes  236 points

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What are the consequences of availing excess TN-VAT credit ? How can it be rectified ?

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Pradeep Kumar Banduni (Commercial)     21 May 2012

Pradeep Kumar Banduni
Commercial 
 8 likes  190 points

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Deposit the excess credit taken VAT amount with interest to the department and revise your sales tax return according to correct tax details.

avater

T S D ( )     24 May 2012

T S D
 
 21 likes  236 points

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Does it attract penalty?


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