By Rahib Tinwala on 18 May 2020
Company got VAT registration from 01/11/2019 on quaterly basis. Input VAT charged by the contractor for construction of residential and commercial unit is AED 1.5 million for the period 01/01/2018 to 31/10/2019. The above residential and commercial units is completed on 31st July 2019 and 25% of such units are leased for the period of one year from the period 01/11/2019 to 31/10/2020. We forgot to claim input VAT of AED 1.5 million in our first VAT Return (01/11/2019 to 31/01/2020).
So it is possible to claim input VAT of the entire AED 1.5 million in the second VAT Return (01/02/2020 to 30/04/2020) or we need to go for the voluntary diclosure for the first VAT Return (01/11/2019 to 31/01/2020) ?
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