A p vat act
n v sudhakar
(Querist) 02 February 2012
This query is : Resolved
Ours is a manufacturing unit registered under AP Vat Act and availing input tax credit. Recently there was an audit from commercial taxes department. They pointed out that we can not avail input tax credit on an invoice pertaining to previous month/s.
The practial difficulty is our manufacturing unit is at one place and registered office where accounts are being maintained is at different place. Always we are receiving invoices with delay. We are making entries in accouonts as and when received.
Now DCTO objected to this and he is disallowing input tax credit pertaining to previous months and the amount involved is huge. He says that we have to avail input tax credit only in the month in which the date of invoice relates. Other wise to submit revised return.
We were not aware and we did not file revised returns.
Can you please let us know the rule position on the above.
N V Sudhakar
Raj Kumar Makkad
(Expert) 02 February 2012
Sorry commercial queries are replies in this site.
Nadeem Qureshi
(Expert) 02 February 2012
Dear Mr. Sudhakar
You can able to pay the lawyer fee, engage a lawyer in your local area specially in tax advocate or company Advocate
Shailesh Kr. Shah
(Expert) 03 February 2012
Please Go Through our Guidelines:-
http://www.lawyersclubindia.com/experts/Guidelines-to-be-followed-275156.asp
