INTERVIEW QUESTIONS TAX VALUE ADDED TAX DETAILS

Question: Is there any time-limit to claim the Value Added Tax (VAT) Input Tax Credit?

Answer: Yes. In the case of goods held in Closing stock on 31.12.20015,the time-limit is within 30 days from the date of commencement of the VAT Act, that is, before 1.2.20016.In the case of other goods, it is three years.

Yes. In the case of goods held in Closing stock on 31.12.20015,the time-limit is within 30 days from the date of commencement of the VAT Act, that is, before 1.2.20016.In the case of other goods, it is three years. Source: CoolInterview.com

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