Input tax credit

Vijay Kumar Rathod (Accountant) (23 Points)

10 June 2017  

The Opening stock as on 01.04.2017 of M/s A sold out to M/s B as per the state VAT rules. Further M/s A did not have any purchase during the month and surrender the VAT Registratation. Now the M/s B would get the ITC for the purchase made during the quarter ending June, 2017.Further M/s B has taken registratation during the month of April,2017 itself. The fist return under VAT is on July 2017.