GOODS RETURNED
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 November 2010
AS PER MAHARASHTRA VAT ACT GOODS RETURN WITH IN SIX MONTH THEN ONLY VAT IS TO BE REFUNDED BUT ONE PARTY SAYS ME INSTED OF SHOWING GOODS RETURN I AM SENDING SALES BILL AND YOU SHOW AS PURCHASES SO QUESTION OF TIME LIMIT DOES NOT ARIES IS THIS OK?
16 November 2010
If the goods are defective and are returned, it will amount to goods returned. But if the goods are defective and purchaser refuses to pay the price of the same, and therefore the seller sues the purchaser, it will not amount to goods returned. VAT will be payable of the same. [Please see 142 STC 182].
Prescribed time limit of 6 months is not applicable if the sale itself is cancelled and the goods are not delivered. [Please see 134 STC 14]
THEREFOR
Rule 3 of Maharastra Value Added Tax Rules 2005, [referred as VAT Rules] prescribes the period allowed for goods returned, which is of 6 [six] months. It is calculated from the date of sale.
Prescribed time limit of 6 months is not applicable if the sale itself is cancelled and the goods are not delivered. [Please see 134 STC 14]
THEREFOR
Rule 3 of Maharastra Value Added Tax Rules 2005, [referred as VAT Rules] prescribes the period allowed for goods returned, which is of 6 [six] months. It is calculated from the date of sale.
16 November 2010
Yes, you can do. but, Party must have TIN (holder) no. and he must pay tax for the same.
16 November 2010
YES,
Prescribed time limit of 6 months is not applicable if the sale itself is cancelled and the goods are not delivered. [Please see 134 STC 14]
Prescribed time limit of 6 months is not applicable if the sale itself is cancelled and the goods are not delivered. [Please see 134 STC 14]
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Plot of land. Cost of Acquisition
- Taxation on LTCG for property sold after 24JUL2024
- REGARDING GST LIABILITY/....
- Last year TDS Claim
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
