Tally

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

muralidhar (Excecutive Accounts)     08 June 2011

VAT Input

Dear Sir,

We have sold some goods in the month of Aug'10 & paid VAT in the month of Sep'10. But we have received purchase invoice(Invoice date Aug'10)  from vendor on June'11. Can we claim the VAT Input? Transacton belongs to Karnataka VAT.

Regards,

Muralidhar.H.S



 3 Replies

subramanya

subramanya (Professional)     08 June 2011

Hi,

I think if the invoice date shows June 11 transaction, you can claim Input Tax credit.

With regards,

Subramanya R

CA Vibhash Kumar Sah

CA Vibhash Kumar Sah (Associate Manager)     08 June 2011

 If we check the other side, only after raising the Invoice, any Vendor discharge the output tax liability. I feel It would be erroneous, if any one take the Input Credit without a valid invoice for the Purchase  . However this may create problem to the your Vendor. As you have a valid documents for taking VAT Input Credit, Credit cannot be denied. The Principle is that once it is eligible for Input Credit by the Provisions of the ACT/RULES, there is no need  of one to one correlation of input credit with the output tax liability.

mukul

mukul (accountant)     08 June 2011

dear sir,

 

i want form xxiv with annxure a & b with part I & II in new format

 

Thanking you,

MUKUL


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Related Threads


Loading
Start a New Discussion

Popular Discussion


view more »







Subscribe to the latest topics :
Search Forum:

Trending Tags