VAT REFUND FOR MARCH-08

Are you talking of which state?As I think you might do not know each state has its own

act for the VAT depending upon the overall requirement of people,geography,environment,etc..

If you are from Gujrata and Act applicable for you is of GVATact

then I can help you

IF YOU ARE FROM RAJASTHAN THEN I CAN ANSWER IT!!!!!

 PRACTICAL PROCEDURE WHICH YOU KNOW VERY WELL APPLICABLE EVERYWHERE IN INDIA

if you are from karnataka than i can answer

is it  DVAT??????????

DEAR SIR, PLEASE TELL ME WHAT IS THE PROCEDURE FOR CLAIMING VAT REFUND FOR MARCH 2008 YEAR ENDED AS IT IS NOT TO BE CARRIED FORWARD TO NEXT YEAR. IN SOME CASES I HAVE ALREADY FILED VAT RETURN CONSIDERING MARCH-08 VAT EXCESS NOW WHAT TO DO ? PLEASE SEND ME REPLY. I AM FROM MAHARASHTRA

Dear Pritesh,

You have to file form No. 501 with the concerned VAT Refund Branch alongwith the copies of purchase bills, details of purchase bills mentioning the bill no, bill date, tin number of selling dealer, name & address of the supplier, etc. You also need to submit the bifurcation of sales/purchases in the form.

The Form 501 is available on website of Maharashtra Sales Tax department i.e. www.mahavat.gov.in. If required, you may visit to the refund branch of the concerned sales tax office.

Laxmikant Jaipurkar - Tax Consultant

Dear Pritesh,

You have to file form No. 501 with the concerned VAT Refund Branch alongwith the copies of purchase bills, details of purchase bills mentioning the bill no, bill date, tin number of selling dealer, name & address of the supplier, etc. You also need to submit the bifurcation of sales/purchases in the form.

The Form 501 is available on website of Maharashtra Sales Tax department i.e. www.mahavat.gov.in. If required, you may visit to the refund branch of the concerned sales tax office.

Laxmikant Jaipurkar - Tax Consultant

Dear I am From Rajasthan I need to know only that what is procedure for VAT Refund in Rajasthan.

1) Is it to be filed yearly

or

Can i carry forward it for next year

There are two procedure is there under Maharashtra VAT Act. One is Immediate refund on the basis of Bank Guarantee (100% BG) or normal procedure. Normal procedure get delayed say 2 or 3 years but on the basis of Bank Guarantee you will get refund within 30 days. Procedure for Bank Guarantee,

1) You should submit 501- E Form. Upload the same to Maharashtra Commercial Tax Website.

2) Approach the concerned officer (AC/DC) and convey your intenation of getting refund thru BG

3) You should take BG For 3 years from a Nationalized Bank in Maharashtra

4) Submit to the Department along with Covering letter

5) You will get refund within 30 days.