Mvat return annexures

Save Share

This query is : Resolved

Shrenik (Querist)

17 June 2012 Sir,

My friend is into business of distribution of medicines, his purchase is mainly from 6 agency, but sales to various retail medicine shops. his turnover is hardly 4 LACS Annually. now as per new amendment we have to give party wise sales & purchase figures in annexures J1 & J2. he can give party wise purchase, but its difficult to maintain sales party records, as there more than 50 parties & also invoice amount is varing from 500 to 2000 only, & sales parties are also not same every year, it keeps on changing.

so, is there any option that we can only give purchase party break up, & all sales can we show in Annexures J2 as cash sales, as in such small business its difficult to maintain records.

pls. give ur suggestion uregntly, as he has to file vat annexures before 30th Jun, 2012.

Thanks in anticipation.

CA CS Pawan Jajoo

CA CS Pawan Jajoo (Expert)

18 June 2012 if the customers are taking set off of VAT charged by you , then its compulsory to Put his VAT number in Sales annexure, else he will not get setoff.

In short if client is Registered under VAT you have mention VAT No. Else put it in last row of NON TIN Holders

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now