Treatment of Sales returns in VAT Calcultion:

Dear Sir,

I wish to know exact treatment of Sales returns from VAT angle.
Mr. A sold 12.5% VAT goods to Mr. B on 02/07/2012. Mr. A files monthly VAT returns.

1) However few goods were returned by the Mr. B after more than six months i.e. say on 05/05/2013. How to consider this sales returns during the FY 2013-14? Whether to deduct this sale from 12.5% VAT sales of May 13 to arrive at VAT liability?

2) Suppose these sales are interstate sales of 2% CST and if the ‘C’ forms are issued and the same are returned backed after more than six months then whether to deduct this sale from 2%CST sale of May 13? What will be the impact if ‘C’ forms are already issued?

3) Further how to treat this VAT / CST sale return in May 13 if there is no corresponding same VAT / CST rate sale in May 13 i.e. there is no 12.5% VAT or 2% CST sale.

Whether the accounting treatment suggested for above cases will remain the same for Purchase returns also?

Kindly Guide.
Regards,
Suraj

Dear Sir,

i m going a small general shop, is it required to take tin no for me

rgds
praveen Jain

hi Experts,

Kindly guide me what would be Penalty for late registration under Maharashtra VAT.?

Does a person require 2 separate registration for his 2 different proprietorship businesses??

And if only one is sufficient, then how will he submit the monthly/quarterly returns...separate return for each business or 2 different returns??

We are PQRS LTD. We have sold the material to xyz ltd Hydrabad the details is as below.Our dealer is ABC Ltd Ahmedabad and our consignee is XYZ Ltd Hydrabad.

In this case xyz ltd had issued form-c in favour of us(pqrs ltd).

My question is can we validate the same as our dealer (abc ltd ahmedabd) do not want e-1.

Kindly advise.

Hello everyone,

one of my client is a dealer of glass products. He has interstate as well as intrastate purchases and sales.

For transportation he is currently paying transporation charges. Now he is burying his own vehile for transportation.

MY question :

Can he claim Input Credit of MVAT paid on purhcase of vehicles and if yes how to take set off ?

waiting for the views of the experts.

hello experts, i want to make an e1 sale. in this transaction the manufacturer is in mumbai, i will be the trader in coimbatore and my buyer is in hyderabad. i have the flwg clarification :
1) in the invoice issued by manufacturer do i mentioned myself as buyer and hyderabad party as consignee?
2) what documents will the supplier (mumbai) send with the trucks?
3) is there any way in which my price of purchase (from mumbai party) will not be known to my buyer (hyderabad party?

your advise will be highly appreciated and also i am looking for a consultant for this matter.

rgds / sujay shroff

Hi,
I am trying to fill the annexure J1 of one of my clients who is a proprietor co. However when i try to validate the same it throws an error of invalid number in the line number 8 of the annexure saying that the same is invalid. However when i check the TIN number it is correct. Can any one suggest me what to do in the same case.

DEAR ALL

CAN ANY ONE UNDERSTAND ME THE TAXATION ON SALE OF REC(RENEWABLE ENERGY CERTIFICATES).

IS THIS LIABLE TO VAT/SALES TAX ?

IS THIS A COMMODITY/GOOD ?


THANKS & REGARDS
HKK

I am registered dealer in Kanpur, Uttar Pradesh and I have a customer in Roorkee in Uttarkhand who want to purchase from us. One of our supplier in Delhi and I want to deliver the material directly from Delhi to Uttarkhand.Can it will treat as E1-C sale ? If yes then please clear me that who issue the E1 and C form and also Road Permit form and if the location Lucknow, Uttar Pradesh instead of Roorkee, Uttarakhand then it is E1-C sale?