Poonawalla fincorps
Poonawalla fincorps

Reversal of vat input

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 March 2012 my question is :
I have written off some stock in the current year which was purchased before 31.3.2006. Should i reverse the Vat input credit taken on the same.I m registered under WBVAT.
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PUNIT JAIN

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PUNIT JAIN (Expert)
07 March 2012 Yes, you have to reverse the Input tax credit taken on such stock.

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