c/f /claims of set off for the fin. year 11-12
This query is : Resolved
13 April 2012
Set off for the fin. year 11-12 is less than Rs 1,00,000. Can it be carried forward to next year or refund has to be claimed in that fin. year?
14 April 2012
Yes you can c/f less than 1 lac.
14 April 2012
There are no minimum amounts presribed for carry forward losses. If u r eligible, u can carry forward losses of any amount.
14 April 2012
Priteshji
I would like to correct my word, you can not carry forward excess credit from 11-12 to 12-13 as per sec 50(2) of Mvat Act 2002.
And no circular for carry forward is came, so until the circular comes you will have to take refund of that amount.
Current circular is for 09-10 only,
Expert opinions are invited.
I would like to correct my word, you can not carry forward excess credit from 11-12 to 12-13 as per sec 50(2) of Mvat Act 2002.
And no circular for carry forward is came, so until the circular comes you will have to take refund of that amount.
Current circular is for 09-10 only,
Expert opinions are invited.
17 April 2012
AS ON DATE THERE IS NO CIRCULAR FOR C/F. OF REFUND RELATED TO MARCH 12 TO SUBSEQUENT YEAR UNDER MVAT.
REVISED REPLY OF EXPERT IS CORRECT.
REVISED REPLY OF EXPERT IS CORRECT.
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