Dear all,
Plz clarify whether there is any time restriction to avail input tax credit under karnatakka value added tax(KVAT)?
If so please under which seciton /rule?
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Time limit for availing ITC under KVAT
Replies (2)
There is no time limit for avaiing ITC. In fact there is no such provision in any of the States' VAT Acts. Just compare with CENVAT because the VAT provisions are similar to this. I would like to share one incident that happened with my auditors in one of my employments who asked me to write it off. But later they were convinced, of course.
Thanks sir
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