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Input tax credit

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..... Dear Sir, Whether input tax credit of VAT is available in case of penultimate sales under Punjab VAT? - Reply By Pradeep Khatri - The Reply = Dear Saket, You may get refund of ITC on penultimate S .....

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..... ales under PVAT Act,2005. VAT Refund usually arises to the exporters or the person doing penultimate export i.e. sales against H forms, due to the fact that the export of goods outside India is consi .....

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..... dered as zero rated sales i.e. not liable for any vat liability and the tax paid on purchase of goods which are to be exported is refunded to the exporters as per provisions of section 18(2) of PVAT a .....

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..... ct 2005. As per section 39(1) refund under PVAT Act may be granted either by way of refund voucher or at the option of the person claiming refund by refund adjustment order. Section 39(2) provides .....

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..... that if any refund is due to a taxable or registered person according to the returns filed for any period, such refund may be adjusted provisionally against the tax due and payable as the returns file .....

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..... d for any subsequent period. This is for your kind information. Regards YAGAY and SUN (Management and Indirect Tax Consultants) - Input tax credit - Query Started By: - saket s Dated:- .....

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..... 26-8-2014 Value Added Tax - VAT-CST - Got 1 Reply - VAT and Sales Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - t .....

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..... axmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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