Refund of vat registration deposit.

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

01 March 2012 Dear expetrs,

how can get refund of deposit which have been paid at the time of voluntary registration for vat, if there is no tax liability.should it carry forward for how many year.
Is there any time limit to carry forward the deposit.

waiting for ur kind reply.

Thanking you

CA. Hari Kishan

CA. Hari Kishan (Expert)
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01 March 2012 Deposit for VAT paid at the time of registration shall be refunded / adjusted only at the time of closure of the business and not other wise..

Querist : Anonymous

Querist : Anonymous (Querist)

01 March 2012 sir,
It means it is not adjusted against tax liability while running bussiness.

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CA. Hari Kishan

CA. Hari Kishan (Expert)
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01 March 2012 No.. it can be adjusted or refunded only upon closure of the business..

Querist : Anonymous

Querist : Anonymous (Querist)

01 March 2012 Sir,
will we get this refund alongwith interest or only deposit amount after adjustment?

CA. Hari Kishan

CA. Hari Kishan (Expert)
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