RE:input tax credit
This query is : Resolved
21 May 2010
Dear sir
We are a vat dealer of petroleum products in Punjab.we are paying entry tax in Punjab. we are adjusting this entry tax
against vat payable in Punjab.This month we have excess input vat.
my query is this whether we can adjust this excess input vat(due to more entry tax paid)against CST payable & can carry forward the remaining input vat to next
monthly return.
thanks & regards
guru
We are a vat dealer of petroleum products in Punjab.we are paying entry tax in Punjab. we are adjusting this entry tax
against vat payable in Punjab.This month we have excess input vat.
my query is this whether we can adjust this excess input vat(due to more entry tax paid)against CST payable & can carry forward the remaining input vat to next
monthly return.
thanks & regards
guru
23 May 2010
Yes, certainly you can refer to section 3(6) of Punjab Tax on entry of goods into local areas act 2000
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