HOW TO FILE REVISED RETURN AS PER VAT AUDIT

This query is : Resolved

PREMAL (Querist)
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30 December 2010 Dear All

My companies vat return applicability is monthly and as per vat audit there is differecne in about 7 to 8 returns so please advise for how to file a revised return as per vat audit, can i file one single revised return in the month of march putting all the figures of full year in march.

Ramalinga H.B

Ramalinga H.B (Expert)
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01 January 2011 Dear Premal,

As per KVAT Act 2003, the revised return for any reason can be filed within 6 months from the date of original return filed. You cannot file a revised return for Mar 10 now! So auditor will qualify and quantify the amount payable/receivable in his/her report. and the revised return shall be filed for each month by taking the difference amount in subsequent month. You cannot file one revised return for the differences found in more than 1 month.

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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02 January 2011 Under VAT, monthly submission is statement not Return.

You just file the annual return based on VAT audit, and pay the differential tax amount , if any.

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