Orissa VAT

This query is : Resolved

Pankaj kejriwal (Querist)
Follow

30 July 2009 In a manufacturing unit we purchasing RM/PM from local market and pay VAT on it.
My question is:-

1. how many years we can carried forward the ITC on VAT( input tax credit ) even if we are started our production and not availing the credit benifit.

Regsd
Pankaj

sharma.ctc@gmail.com

sharma.ctc@gmail.com (Expert)
Follow

09 January 2012 As far as I remember you can claim the ITC upto 12 Months....(if no purchase & sales are there, after 12 months it will be forfeited)

But in your case as you have already shown it in your return... I think no problem will be there as the ITC is a carried forward balance...