21 February 2012
business is trading. 1.Dealer has collected 12000 as Mvat & paid 15000 as Mvat during May. Filed the return. Can the excess Mvat paid ie 3000 be carried forward for the next month ie June?
2. Above condition exists in the month of march, can the excess Mvat of 3000 be c/f to the next year?
21 February 2012
As per the new provisions for the period 10-11 refund below 1 lac can be carried forward to subsequent period provided refund applied has been withdrawn refer circular 6T of 2011
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