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GOODS RETURNED

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20 October 2008 CAN ANYONE GIVE ME VAT TREATEMENT FOR GOODS RETURNED TO SUPPLIER AND GOODS RETURNED FROM CUSTOMER.

21 October 2008 VAT credit will be expunged on return to supplier.

What credit will be taken in on return from customer.

21 October 2008 In case of Sales return the vat is not payable on goods return or vat liability will be on net sales
In case of purchase return the vat credit is not available on goods return or vat credit will be on net purchases




21 October 2008 Dear R N Mohil Sir, can u please elaborate on the same regarding whether for purchase return Credit Note of Supplier is necessary and if yes, whether purchase and vat amount should be separately mentioned on the said Credit Note

25 October 2008 Dear Mr. Prasad

If Goods is returned within the six months of Sale/Purchase than Tax amount involved in return value can be reversed.

At the time of goods returned to supplier, issue a Debit Note to supplier with saperate tax shown in DN (if goods returned within 6 months)

& same in Sales Return from Customer issue a Credit Note to customer



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