Dear Sir,
can someone please advice,
we are manufacturer and maharashtra vat registered,
we had filed return of fy 09-10 as excess credit refund--Rs 311848,
we have not received the refund so far
can we set this off against vat payable in the year 12-13, 13-14
thanks
rajesh
The excess ITC must be taken year to year. If you leave the excess in that year, then it will be lapsed.That is if you are not carried forward ITC , you are eligible for refund.
My Legal Tax Consultants Pvt. Ltd.
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