Section 44ad

if Dealer X registered under MVAT under the Voluntery basis on 01.02.12 w.e.f. but he purchased the goods before taking the registration i.e. before Vat TIN from Dec 11 !

can he claim VAt credit on these purchases ?

plz reply as early as possible

Replies (4)

Agree with above

Dear Sameer if you have volunteerly apply for VAT TIN No. then you can not avail ITC of purchase before apply for registration, if your bill was after application date and even if your received retail invoice for it...then it will considered as ITC on purchase after approval of AO

 

Dear Niranjan yes, he will get benefit of 44AD 8% deemed profit on his professional service if his t.o not goes above 60 lacs.

Dear Sameer if you have volunteerly apply for VAT TIN No. then you can not avail ITC of purchase before apply for registration, if your bill was after application date and even if your received retail invoice for it...then it will considered as ITC on purchase after approval of AO

 

Dear Niranjan yes, he will get benefit of 44AD 8% deemed profit on his professional service if his t.o not goes above 60 lacs.

Agreed with Mortaza...

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