Poonawalla fincorp
Poonawalla fincorp

vat

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 July 2011 if the party has applied for vat input credit and the party has not refund of complete amount .will the remaining can be taken as a expenditure or it will be disallowed.
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CS Bijoy

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CS Bijoy (Expert)
08 July 2011 According to me VAT paid can be taken as input credit, but in case the credit taken is in excess of the amount paid it can not be allowed.

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