Download Andhra Pradesh VAT FORM VAT 115: Claim for Credit of Sales Tax Paid On Goods in Stock at the Commencement of Value Added Tax under AP Value Added Tax Act
As per Andhra Pradesh VAT rule 37(2) (b)
The conditions for claiming sales tax credit shall be,-
(a) the dealer claiming credit must be registered for VAT on the date of commencement of the Act;
(b) the claim for credit shall be on Form VAT 115;
(c) where the goods in stock are listed in Schedule I or Schedule VI to the Act, no sales tax credit shall be allowed;
(d) the sales tax credit allowed shall be subject to the conditions in Rule 20;
(e) a VAT dealer claiming sales tax credit shall make an inventory of all goods on hand on the date of commencement of the Act on which a sales tax credit is claimed within a period of seven days of the commencement of the Act ;
(f) i) where documentary evidence of sales tax charged is available, the sales tax charged shall be used as the basis for claiming the credit. In case of goods specified in the Sixth Schedule of the Andhra Pradesh General Sales Tax Act, 1957, the tax paid on the value of the goods shall be arrived by applying the tax fraction, even though tax was not shown separately;
ii) where the documentary evidence specified in clause(i) is not available, the amount that can be claimed as credit shall be based on ninety percent (90%) of purchase value. The tax component which can be claimed as a credit shall be calculated by the use of the tax fraction to this value;
iii) where any tax was paid on any goods at the point of purchase by the dealer himself, such tax actually paid shall be eligible for sales tax credit;
(g) where the goods in stock are listed in sub rule (2) of Rule 20, no sales tax credit shall be allowed except as provided for under the provisions of that rule;
(h) a claim for sales tax credit shall be submitted to the authority prescribed within ten days from the date of commencement of the Act. The Deputy Commissioner may, having regard to the circumstances permit the VAT dealer to make the claim after the said ten days but not later than thirty days from the date of commencement of the Act. The approval of the claim for sales tax credit shall be issued on Form VAT 116 not later than ninety days from the date of commencement of the Act ;
(i) the VAT dealer shall keep all documents relating to the claim for credit for a period of four years from the date of commencement of the Act and shall provide such documents to the authority prescribed for audit if required;
