vat amount payable in financial year 2010-2011 Rs. 25000.00
but we paid Rs. 35000.00. This exces payment will be
carried in next financial year?
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Answer Posted / sreenivasulu
the excess amount paid towards VAT (i.e.10000) can carry forward to next financial year. But, while paying the VAT in the year 2011-2012 the excess amount is to be written-off from the amount payable towards VAT.
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