Input Credit of VAT

Page no : 2

Ajit kumar Dubey (Taxation Manager) (637 Points)
Replied 07 July 2012

Originally posted by : vivek khemka
	whether purchases from outside India allowable input tax credit .

No credit allowed on the same as VAT is not paid in that state.

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Ajit kumar Dubey (Taxation Manager) (637 Points)
Replied 07 July 2012

No you cannot claim the amount back as you must have charged the same to your customer. This can be adjusted only at the time of audit. He can allow the same, provided that the principle of unjust enrichment is satisfied.

1 Like

Subham (accountant) (30 Points)
Replied 07 July 2012

SIR/MADAM,

Thank you for your previous valuable reply. I have one more problem as described below.

We have made a sale outside West Bengal (On April 2012) to a registered dealer and charged CST @ 2%. party has made the full payment also. But now the party is not providing "C" form and they are saying that thay have shortage of C form and they are ready to pay excess 2% if we provide them a invoice with 4% VAT (as sale to unregistered dealer out side the state).

Please help me to solve this problem and give me the correct legal guid line.

DEEPAK ROHERA (Senior Accountant) (285 Points)
Replied 07 July 2012

First you ask to your supplier that why he dos't write the amount of vat seprately is this is good is expmpted or he do'nt have your TIN NO. so he supplied you as a Un-Reg. Dealer than you take this credit

if he do this mistake than you take credit of 4% Rs.48/- no subsidy effacted on that