Vat setoff

DD of Rs 25000/- is given as sales tax at the time of taking new TIN.  

So it should be treated as Sales tax deposit and should be shown in asset side of the balance sheet Under the head Deposits seperately.  

and should not be adjusted while filing returns.

vinod, thanks.

bt r u sure as i came to know that we can adjust the same amount in Filling the sales tax return.

So , do u mean to say that, we have to pay the Amount of vat that is arrived after deducting SALES VAT - PURCHASE VAT

the refund of Rs 25000/- will come after how many years ? n there is any procedure for getting that deposit ?

VAT is a state ACT. 

I texted what usually we do in our state (ANDHRAPRADESH) as per my knowledge i replied you.  

The refund of deposit can be refunded only at the time of closure of business or at the time of cancelling the tin.  Till that time we will it in the asset side of the balance sheet.  

we belong to Maharashtra State...so wht is applicable in Maharashtra..could any1 let me knw.