Vat haryana
vinesh gupta
(Querist) 02 June 2014
This query is : Resolved
regarding refund procedure
we want to take a refund of m/s adyant metal industries jagadhri approxmately value worth
rs one lacs it is of various assesment year 2010 to 2014 . our dealer is doing trading of metal utensils . we have paid tax @ of 5.25% at the time of purchasing the utensils and sold all the utensils against c form and receieve tax only 2%that excess tax paid on purchases is our refund.
R K JAIN
(Expert) 03 June 2014
Claim the refund in the quarterly returns as well as in the annual return for the year 2014-15. Approach Assessing Authority to make the assessment order and allow the refund in the assessment order for the year 2014-15 instead of carry forward of input tax.
T. Kalaiselvan, Advocate
(Expert) 04 June 2014
Yes it is better to consult your tax consultant and proceed as per his advise on the subject issue.