Vat refund

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if output  vat has been paid aginst credit sale and custmer become insolvent  and return has been filed can refund can be claimed 

Replies (1)

Refund can be claimed by cancelling the Invoice on the insolvent customer by way of a Credit Note.

Caution: The sale can be cancelled by way of a Credit Note only if it is within the period as prescribed by the State VAT Act. Normally it is six months from the date of Invoice.


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