bad debts
This query is : Open
13 October 2009
debtor became not recoverable and it taken into discount. so can i reverse vat included in sales?
CA SANJAY MUKHERJEE
(Expert)
13 October 2009
No,in old sales tax regime you can clam Bad Debt as discount but after introduction of VAT there was no refernce of this old provision in VAT ACT.
The logic behind the discontiniuation of this is " Since the Department allowed the Purchaser the VAT Input Credit " on the basis of your TAX Invoice, it would not be possible to reverse the Input credit allowed.
This is for WB VAT and I presume would be same for other states also.
If u get different provision for some other state please inform.
The logic behind the discontiniuation of this is " Since the Department allowed the Purchaser the VAT Input Credit " on the basis of your TAX Invoice, it would not be possible to reverse the Input credit allowed.
This is for WB VAT and I presume would be same for other states also.
If u get different provision for some other state please inform.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Intimation under section 245
- Urd purchase entry in tally prime
- GSTR-9C filing
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
