vat claim

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2010 hi

The claim of one quarter input vat credit can be adjusted in another quarter.beacause in this quarter my accounting is incomplete so there are some purchase bill which required to entered

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
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30 July 2010 No, you can not take the benefit of input vat in the next period.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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30 July 2010 My view , if with in the one financial year can be set off

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CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
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31 July 2010 DIFFERENCE OF OPINION
Sir, return to be filed for a tax period ,may be monthly,qtrly, half yearlyor yearly. Thereafter, input tax on purchases cannot be claimed in return.It can be claimed in appeal or objection as per Dvat-04.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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31 July 2010 If Author provide the state, we will conclude correctly

VINOD ARORA

VINOD ARORA (Expert)
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02 August 2010 In my opinion, best option is that the revised return be filed as per updated accounts. Revised/updated figure of input credit pending set off may be carried forward in next tax period.