TaxTMI 
TaxTMI 
Input tax credit
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....nput tax credit<br> Query (Issue) Started By: - saket s Dated:- 26-8-2014 Last Reply Date:- 26-8-2014 VAT + CST<br>Got 1 Reply<br>VAT / Sales Tax<br>Dear Sir, Whether input tax credit of VAT is avai....
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....lable in case of penultimate sales under Punjab VAT? Reply By Pradeep Khatri: The Reply: Dear Saket, You may get refund of ITC on penultimate Sales under PVAT Act,2005. VAT Refund usually arises to....
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.... 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 considered as zero rated sales i.e. not liable for any vat l....
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....iability 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 act 2005. As per section 39(1) refund under PVAT Act ma....
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....y 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 that if any refund is due to a taxable or registered per....
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....son according to the returns filed for any period, such refund may be adjusted provisionally against the tax due and payable as the returns filed for any subsequent period. This is for your kind info....
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....rmation. Regards YAGAY and SUN (Management and Indirect Tax Consultants)<br> Discussion Forum - Knowledge Sharing ....