Should i have to claim refund?

Well we have started filing our vat return from 2009 from when our business came into existence.


From all this period till now never we had to pay vat from our pocket in sense sales were lower than purchase.Hence refund used to come in book.


Upto last accounting in march we had to claim Rs 26000 as vat refund from government.Our accountant said it goes into carry forward mode.And when ones sales exceed purchase and if vat from pocket comes into scene one has to adjust it.From this season i myself have started keeping all entries hence without any accountant.

Now for this present 6 month quarter we need to claim 35000 amount s refund.As purchase vat paid is 1 lakh 40000 whereas sales vat collected so far is 1 lakh 5000.


Now obviously i will again make a carry forward.


But my father says that 20-25 years back and used to maintain books when he had started business at that time one have to claim the refund else  the amount is ceased by government.Also he states that one have to forward vat via cheque or cash atleast once to government as you cant always  claim refund.I said i have already paid vat via purchases and its the dealer responsibility.If i have excess stock in hand how come i pay cheque on stuff which i still haven't collected vat .

So 2 questions?


1::For this quarter 35k and old record 26k should i apply for refund or carry forward it?


2:Is my father stating that government ceasing your vat refund a correct thing.How can government  cease your money when you cant get buyer for your stock and its your money on whom they should pay interest.

 

Please guide me as this time i am all alone.

Replies (2)

while filing the vat returns u can claim ur vat by filling in refund coloumn and claim ur vat instead of simply carrying forward for no of years. filing every month is compulsary or else they will de activate ur license

Thank i need to catch my ca than.


Btw i fill 6 monthly return as i dont come under 60 lakh audit limit.

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