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Time Limit to avail KVAT Input

Sandeep Kuncham J (Chartered Accountancy) (26 Points)

25 April 2009

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

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5 Replies

suresh (Cost Accountant) (33 Points)
Replied 28 April 2009

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 (Chartered Accountancy) (26 Points)
Replied 30 April 2009

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 (Cost Accountant) (33 Points)
Replied 07 May 2009

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 (Article assistant) (22 Points)
Replied 28 December 2016

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 (Accounts Officer ) (25 Points)
Replied 22 June 2017

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 ?