// home

Latest Post

Gujarat VAT Clarification: Provisional Refund of ITC on Closing Stock

Rule 37(5) read with Rule 15(6) of the Gujarat VAT Rules provide for provisional refund of upto 90% of the unadjusted `input tax credit’ (ITC) where the ITC (other than ITC on capital goods) admissible in the relevant period remains unadjusted against the output tax and if such unadjusted ITC is claimed as a refund [...]