Vat refund

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2013 one of our client had vat liability in first half of 2010-11 and refund in second half now how i should adjust the refund against the liability?

RENGARAJ R.K

RENGARAJ R.K (Expert)
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05 September 2013 You will have to write to the VAT officer of your circle to adjust the refund in the first half. Have you tried this?

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MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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05 September 2013 As the vat liability comes first it has to be paid along with returns. If already delayed interest and penalty also become due.Later comes the surplus of second half. This can be c/f for a few months and at the end of the year refund claim is to be made....mjk

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