FORAM MEHTA (ARTICLE ASSISTANT) (52 Points)
23 March 2012I WANT TO KNOW that if a new TIN No is Taken & at time of taking new TIN NO we have submitted the DD of Rs 25000.
So while filing 1st Return of VAT can we take the Set off of Rs 25000/- & excess Can be Carried forward.
Is this Valid ? If not then what is the way 2 file the 1st return taking/not taking the credit of Rs 25000 ?
Is urgent ... So plz suggest as soon as possible
Murtaza I Bhagat
(Tax & Finance Consultant)
(10523 Points)
Replied 16 April 2012
sorry I got you query late so if you have solved your query then pls ignore it
I think you have give Rs. 25000/- as voluntary registration Deposit and I think if your state is not returning this deposit as prescribed under State VAT act then you can sett off with VAT payable and excess you have to carry forward fo the next month or quarter
CAclubindia
