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Clarification regarding VAT input

Naveen (CA Final, B Com (A&F)) (122 Points)

15 March 2011

Is there any notification or is there any provision regarding ineligibility of claiming VAT on an invoice which was issued more than 6 months back in Karnataka?

Please send me the link to the relevant notn.

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9 Replies

Naveen (CA Final, B Com (A&F)) (122 Points)
Replied 15 March 2011

Please help me out... i'm in dire consequences for not claiming VAT on a bill dated dec 2008...

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Bharadwaj (Self Employed) (177 Points)
Replied 15 March 2011

Even i'm have the same doubt.......

Pankaj Arora (Learner) (3134 Points)
Replied 15 March 2011

you can not claim december 08 bills input credit now..........

1 Like

DAYANANDA K N (ACCOUNTS EXCECUTIVE) (575 Points)
Replied 15 March 2011

I dont have any notification referecne. But when you are doing online filing of input credit details it will not accept the invoices which are agening more than six months (6month is from date of the Invoice)

Based on this we can conclude that invocies which are more than six month old will not be eligible for taking credit

Regards

Dayananda

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PRADEEP CHAND SHARMA (Accounts Officer) (141 Points)
Replied 15 March 2011

U Can't Claim the Input tax credit of VAT on invoice issued more than 6 months.

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Naveen (CA Final, B Com (A&F)) (122 Points)
Replied 15 March 2011

Yeah, even according to me you can't claim input if they are more than 6 months... but there's nothing of that sort mentioned anywhere in karnataka vat act nor are there any notifications that i could find... If there was a legitimate provision regarding this issue, it'll be helpful...

Can anyone give me some proof?

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 15 March 2011

u havbe excaped the invoice to take credit and rules allow u to take credit within the return period, if escaped then u had to revise the original return(s)

the rule

(4) If any dealer having furnished a return under this Act, other than a return

furnished under sub-section (3) of Section 38, discovers any omission or incorrect statement

therein, other than as a result of an inspection or receipt of any other information or evidence

by the prescribed authority, he shall furnish a revised return within six months from the end

of the relevant tax period except when such revised return is on issue of a debit note under

Section 30, subject to sub-section (2) of Section 72.

(Guest)

agree with u s

Naveen (CA Final, B Com (A&F)) (122 Points)
Replied 16 March 2011

But this is not the case of incomplete or omission in the statement...

This is in respect of a construction company... A VAT invoice was raised on the company in 2008, for a project which got completed in dec 2010 and that particular expenditure has been booked now... So VAT has been accounted now... since it has been transferred to work-in-progress which will later be transferred to fixed assets of the company, it can't be disallowed as a prior period expenditure...

Can VAT be claimed in such a case?