HOW TO CLAIM REFUND OF LBT. LBT REFUND IF GOODS SOLD OUTSIDE LOCAL LIMITS(OUTSIDE NASHIK)

IN CASE OF GOODS RE-SOLD OUTSIDE NASHIK WITHIN 6 MONTHS (LOCAL LIMITS); THE DEALER / TRADER CAN CLAIM REFUND OF LBT OR EVEN ADJUST AGAINST THE LBT PAYABLE FOR OTHER MONTHS.

HOWEVER, THE DEALER HAS TO KEEP PROPER RECORDS OF MOVEMENTS OF GOODS AND FOLLOW THE PROCEDURE PRESCRIBED UNDER LBT RULES FOR THIS PURPOSE.

FURTHER, IF WHILE DOING THE ACCOUNTING THE SEPARATE LEDGER ARE MAINTAINED FOR LOCAL PURCHASES AND OUTSIDE PURCHASE, LOCAL SALES AND OUTSIDE SALES; THE SAME IS ALSO USEFUL.

MANY DEALERS/TRADERS ARE NOT AWARE ABOUT THIS PROVISION.

THERE WERE NO SUCH PROVISION UNDER OCTROI.

Regards,
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CA.C.V.PAWAR
PATIL DAWARE GIRASE PAWAR & ASSOCIATES

CHARTERED ACCOUNTANTS

0253-2319641. M-9423961209

INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD