Input amount

This query is : Resolved

Jothi (Querist)
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22 June 2012 Our concern is a small scale unit. We taking input credit in TNVAT. But only 25% of input amount was used. Because we are selling 75% to interstate only. So, how to claim this unused input credit amounts which is showing balance in accounts. kindly guide me.

Jothi

RENGARAJ R.K

RENGARAJ R.K (Expert)
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23 June 2012 Whether all interstate sales are against C form? If not, ITC taken by you will have to be reversed on such turnover.

Further, the excess vat can be claimed at the end of the financial year by applying to you CTO circle.

rengaraj r.k