KVAT DEREGISTRATION PROCEDURE - Professionals - GST - TIK Share
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KVAT DEREGISTRATION PROCEDURE


S.M Navale

2015-05-03

Hi,  please tell me the procedure to get deregistration .    if there is input vat is there, then it can be refunded?

Rahul Rai

2015-05-04

You can surrender your certificate online. Once surrender application is given, Department will calculate the regund or liability.

Department will conduct audit also if refund is high. Department will pay refund if, it is genuine.

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S.M Navale

2015-05-04

Thank you for your reply.

my client has inpur vat credit of Rs. 10000, I asked department about the refund, but  department  told it cant be refunded, instead tha t much amount have to pay to department, is it correct?

 

 

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Rahul Rai

2015-05-04

Input credit is taken on purchase. If you have closing stock, then you need to pay refund to department because you have not sold the goods on which you took credit.

Refund is possible in only in following 2 cases:

  1. You purchased with VAT input but sold in interstate with C-Form, in this case your input will be excess and you can take refund.
  2. Your tax on purchase was higher than tax on sale of good.

For example, if you purchased at 5.5%, and sold at 5.5% then you should not have any refund.

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S.M Navale

2015-05-05

Thank you for your valuable advice.

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Mukesh Jain CA

2015-05-08

The department should also refund back to you the security deposit. This will be repaid if you do not have any outstanding VAT Payable.

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