CANVET CREDIT is not taken by ASSESEE
As tere is heavy reduction in SALE against huge CLOSING STOCK.
Is there any Section for REFUND of TAX.
1 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 12 February 2011
within 180 days of invoice u can take credit in current return, after 180 days its not possible in case of VAT
in case of cenvat, u can take credit now(1 year) and maintain credit balance, for payment in future,
cash payment is not possible, except refund of duty paid on export clearance.
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