ITC MISMATCHING
This query is : Resolved
28 April 2016
ITC mismatching : dear sir , my friends is a two wheeler sub dealer in orrisa ,sub dealer is purchasing bick from his dealer .I file my income tax return but 3 month ago , adit was come odited my file and sales track and found that mismatching between out put tax show and ITC taken by sub dealer mismatching amount isRs . 1,56,187.00. finaly sub dealer is got income tax notice so kindly advice in following queries. ..
1. will sub dealer having any deficaulty with tax notice instinct of sub dealer file tax return accouding to his sales and income
2.whether income tax notice is valide incase of sub dealer
3.what is the core of action sub dealer will take
thanks and regards
irfan alam
28 April 2016
ITC is a matter of VAT and income tax has not contact with that both are different. if ITC on sales are mismatch then you had been received notice from your VAT dept. not form income tax department.
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