Dear All,
Can we carry forward excess credit of MVAT to be adjusted in the next years returns.
Mayur Khetshi Nisar (Practice) (139 Points)
03 September 2009Dear All,
Can we carry forward excess credit of MVAT to be adjusted in the next years returns.
N. Prasanth
(Student)
(31 Points)
Replied 03 September 2009
I would disagree with Bhagyesh. If there is an excess setoff in the month of march, it cannot be c/f to next year. Refund has to be claimed in form 501. Excess setoff of any other month can be c/f to the next period.
The relief of c/f was given in the years 2005-06 and 2006-07 through a circular. However no such circulars were issued in the year 2007-08 or further.
CA CHINTAN AJMERA
(Chartered Accountant)
(2987 Points)
Replied 03 September 2009
I Agree with Bhagyesh
Mayur Khetshi Nisar
(Practice)
(139 Points)
Replied 04 September 2009
can anybody give the relevant circular on the same ?
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