Carry forwar vat
This query is : Resolved
PARAG CHITNIS
(Querist)
17 September 2013
under mvat whether refund below Rs.1 lac of 08-09 can be carry forward to year 09-10.
and refund below rs.1 lac for 07-08 can be c/f to 08-09.
the returns are filed with carried forward.
and refund below rs.1 lac for 07-08 can be c/f to 08-09.
the returns are filed with carried forward.
MJ Krishnamurthy
(Expert)
17 September 2013
As per sec48 of Maharashtra VAT Act 2002 you can c/f all the excess amounts of tax in a return/revised return and adjust it against any amount payable in the succeeding returns/periods.But, if you have to claim refund an application has to be filed within 18 months from the end the year in which that return falls....mjk
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