VAT credit can be claimed by you in respect of closing stock held as on 30th June. For claiming the same you are required to file Form Tran-1 . You can claim 100% of the VAT credit provided you have filed all the returns required under the existing law for the period of six months immediately preceding the appointed date.
Please mark your satisfactory level...
My Dear ,
I thank you for marking the answer as satisfactory.
I have noted.
It will be very nice and helpful to our other members (and the answerer too) if you mark your satisfaction level on the grade scale below.
Please feel free to mark any point. I don't share it with anyone. I use it for doing my internal calculations only. I use these calculations to evaluate the service performance of the relevant virtuoso.
Here is the grade scale:
Thank you,
Yours sincerely,
Anu, Thakurani's bestie