Refund of mvat deposit amount of rs. 25,000/-
This query is : Open
20 May 2016
Dear Expert,
Pl let me know wht are the procedure for getting MVAT refund. I read all the conditions but exact I required the Form name or Format of Application if any?
Pl let me know wht are the procedure for getting MVAT refund. I read all the conditions but exact I required the Form name or Format of Application if any?
20 May 2016
The dealers who desire to claim refund shall file the electronic form 501 along with the mandatory annexures.The templates of e-form 501 and annexures thereto are prepared in single Excel workbook and are freely available on website. www.mahavat.gov.in
20 May 2016
Sir,
Thank you for the revert, but My question is regarding the MVAT deposit paid at the time of getting registration certificate, not for refund claim in MVAT return.
Thank you for the revert, but My question is regarding the MVAT deposit paid at the time of getting registration certificate, not for refund claim in MVAT return.
20 May 2016
Grant of Refund of Security Deposits.-
(1) A person or dealer who has obtained the voluntary registration may make an application to the registering authority for refund of the amount of Rs. 25,000/- of security deposit.
(2) The application for the refund may be made,-
(a) where the registration certificate is cancelled within the period thirty-six months from the date of registration, then within six months from the date of service of the order of the cancellation of the registration certificate, and
(b) in any other case, after a period of thirty-six months from the end of the month containing the date of effect of the registration certificate but before the end of the period of forty-eight months from the end of the month containing the said date.
(3) The registering authority shall, within ninety days from the receipt of the said application, refund the amount of security deposit if the dealer has,-
(a) filed all the returns due upto the date of application for refund of the security deposit, or upto the date of cancellation of registration certificate, and
(b) paid the tax due as per the said returns, and
(c) made the application for refund within the period prescribed under sub-rule (2) above.]
Summary :-
Accordingly to 60A(2)(b)...to get the refund of the Deposit money refund, one has to apply 501 itself with the challan mentioning the TIN and the date of the challan deposit....ON LINE...only... The refund will be disbursed within 90 days from the date of application vide form 501...
(1) A person or dealer who has obtained the voluntary registration may make an application to the registering authority for refund of the amount of Rs. 25,000/- of security deposit.
(2) The application for the refund may be made,-
(a) where the registration certificate is cancelled within the period thirty-six months from the date of registration, then within six months from the date of service of the order of the cancellation of the registration certificate, and
(b) in any other case, after a period of thirty-six months from the end of the month containing the date of effect of the registration certificate but before the end of the period of forty-eight months from the end of the month containing the said date.
(3) The registering authority shall, within ninety days from the receipt of the said application, refund the amount of security deposit if the dealer has,-
(a) filed all the returns due upto the date of application for refund of the security deposit, or upto the date of cancellation of registration certificate, and
(b) paid the tax due as per the said returns, and
(c) made the application for refund within the period prescribed under sub-rule (2) above.]
Summary :-
Accordingly to 60A(2)(b)...to get the refund of the Deposit money refund, one has to apply 501 itself with the challan mentioning the TIN and the date of the challan deposit....ON LINE...only... The refund will be disbursed within 90 days from the date of application vide form 501...
20 May 2016
Sir,
As I already says that I know the condition for refund of deposit. Pl confirm Form 501 is for refund of deposit paid at the time of registration or refund or Refund of MVAT comes in Return?
As I already says that I know the condition for refund of deposit. Pl confirm Form 501 is for refund of deposit paid at the time of registration or refund or Refund of MVAT comes in Return?
29 May 2016
please fill Annexure A for neft transfer of your security deposit and submit one cancelled chq to sales tax department.
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