Vat refund
This query is : Resolved
29 August 2011
Dear all
A Company has Export Sales on which no vat is collected, but
On Purchases VAT is paid,
so when should the company claim refund while filing quarterly return or on year end
Regards
A Company has Export Sales on which no vat is collected, but
On Purchases VAT is paid,
so when should the company claim refund while filing quarterly return or on year end
Regards
31 August 2011
VAT means the tax on value addition so if the sale value is higher than purchase value than vat need to deposit not related to collect or not.
If both value is same than refund can be claimed on input vat.
If both value is same than refund can be claimed on input vat.
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