19 February 2011
sir! my turnover of sales for the period 1st april 10 to 30th june 10 is Rs. 500001/- & for the same period turnover of purchase is Rs. 1000000/- (in which i have paid vat Rs. 80000/-) i have applied for registration on 5 jlly 2010.How i will fill the return form & get the credit of excess vat which i have paid at the time of purchase.... is it possible to get credit of excess payment of tax....pls guide....
20 February 2011
I can tell you about West Bengal Rules. You have to submit a stock statement as on date of registration giving details of stock, purchase details and input tax paid etc. in a prescribed form duly certified by a chartered accountant. After submission of this form to authorities, you can claim input on opening stock.
CAclubindia
