06 February 2013
I am a VAT registered dealer and my total annual turnover for the year amounts to Rs.300,000 (ie. less than Rs.500,000)i have not charged any VAT on my sales of Rs.350,000 so i have not received any VAT amount from the customers but I have paid VAT on my purchases of Rs.300,000(ie. I have paid Rs.15,000).The question is whether I can claim refund on my VAT amount paid of Rs.15,000?
CAclubindia
