Refund of VAT

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2011 Unit manufacturing and sourcing most of the inputs from the state on payment of VAT. The Sales are mostly CST and Export and very small portion within State. In almost all the months, there is refund of VAT due and the same is carried over till year end and refund is claimed at the year end. In this type of Sales, is a comprehensive return covering all the above transactions - VAT Purchases, Interstate Purchases, Imports, purchases without payment of taxes, - Sales mentioning VAT Sales, CST Sales and Export Sales and mentioning the refund due is okay? Dept. mention about submission of Form 21J for refunds - In the present case, for what amount of purchase should the unit submit 21 J - Is it only for the amount of refund it claims or for the full VAT Purchase?

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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01 July 2011 Mr Author ,
Every month you are required to submit details regarding the purchases and sales under various categories.As you have stated refunds arise at the end of each year and you have confirm the details of various transactions resulting in the refund in form 21J.