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Time Limit to avail KVAT Input


Sandeep Kuncham J (Chartered Accountancy)     25 April 2009

Sandeep Kuncham J
Chartered Accountancy 
 26 points

| My Other Post

 Dear All,

We are in manufacturing industry. We have incurred expenditure on Spares for Repairs of Plant & Machinery, BUT we have not taken credit for the same during the past ONE YEAR.

I would like to know what's the procedure to claim VAT input for spares purchased for repairs to P&M for these 12 months.  Is there any time limit to claim this VAT Input.

Regards,

Sandeep

 

suresh

suresh (Cost Accountant)     28 April 2009

suresh
Cost Accountant 
 33 points

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Originally posted by :Sandeep Kuncham J
"

Dear Sandeep

As per VAT act, Tax period is a calender month, if is there any omission or error in original VAT return you can revise the original VAT return within a Six months  from the end of the releavant tax period.  thats means you can revise the VAT return and take the input omitted in earlier retruns. 

again on the strength  VAT audit report of Chartered Accountant/Cost accountant you can submit revise returns for the whole year.

 
Sandeep Kuncham J

Sandeep Kuncham J (Chartered Accountancy)     30 April 2009

Sandeep Kuncham J
Chartered Accountancy 
 26 points

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Thanks Suresh,

so, to claim differential VAT input for the FY 2008-09, we have to wait for VAT Audit, and then based on CA Audit report we have to file revised returns for the entire year.

Finally,  Will this amount be refunded via cheque, or, can we claim as carried forward and set-off this input in subsequent months after filing revised returns.

suresh

suresh (Cost Accountant)     07 May 2009

suresh
Cost Accountant 
 33 points

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Originally posted by :Sandeep Kuncham J
" Dear Sandeep,
Yes you can wait for VAT audit report for the credit beyond 6 months.
if you are not able to utilise the input credit then you can apply for refund of input tax.  If you can use the credit for the payment of subsequent months VAT payment. then u need not to apply for refund.
"


 

Sahana V

Sahana V (Article assistant)     28 December 2016

Sahana V
Article assistant 
 22 points

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Query.

i have recorded purchases in Feb,2015 & eligible to take input credit of the same. however i didnt take in that year.

in June 2015, i have availed the inut of same & same is not reflecting in my books for financial year 2015-16.

 

Should i revise my VAT 100 & the avail input or can i avail input, since it is within 6 months?

Ravi BR

Ravi BR (Accounts Officer )     22 June 2017

Ravi BR
Accounts Officer  
 25 points

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If cannot availed input vat since invoice date more than six month. Then how do we declarred the purchase during return filling ? and is it not require to upload  X M L upload for that invoice ?


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