Refund

This query is : Resolved 

20 July 2011 Urgent

if our refund for the F.Y. 2010-11 exceeds Rs. 1,00,000/-, can we carry forward our Refund to this quarter and claim set off

Kindly inform us.

20 July 2011 No it is not possible.

Assessee can not set of his/her tax against last year refund. Only IT dept have such right to set off your tax credit against demad of past period(s).

20 July 2011 actually having VAT refund for 31/3/2011 and for quater ending June we need to pay VAT hence can the net be payable




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