Vat

This query is : Resolved

seeta (Querist)
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28 July 2011 as on 1/4/2011 Vat receivable-15235

Vat Tax for q1- 14753

Sir tell me that can we utilised vat receivable against q1 Tax or not

Hitender Gaur

Hitender Gaur (Expert)
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28 July 2011 What was position of VAT receivable in your VAT Return? Check it if you were claimed refund then you cant utilize you have to obtain Tax credit Certificate from Assessing authority first, but if you carry forwarded to next tax period than you can utilize it against the liability of Q1. So Check your concern return (in which Input VAT is excess than Out put VAT) first.