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Vat refund

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(Querist)
08 June 2012 We have taken new VAT Reg No. and Purchased Machinery on which VAT paid is Rs.325000/- in Jan 12 .

No sales and other transaction took place in 11-12.

Can we claim entire VAT paid on machinery as refund in March 12 Return.
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CA Nishikant Jaiswal

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CA Nishikant Jaiswal (Expert)
09 June 2012 As per MVAt Act you can aplly for Refund in Form 501 within 18 months from the end of Financial year.
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CA CS Pawan Jajoo

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CA CS Pawan Jajoo (Querist)
09 June 2012 thanks ....
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