regarding vat 20
This query is : Resolved
26 October 2009
we are distributor of petroleum products (firm).we have submitted our balance sheet for 2008-09.Due to some wrong entry by accountant,our sales were shown 1 lakh extra
in balance sheet.now,we have to file vat-20 form.according to returns our sale is 2000000.but according to balance sheet our sales is 1 lakh extra i.e.2100000. now what can we do as there is difference in sales according to return and balance sheet.we donot want to show differnce in vat-20 form
in balance sheet.now,we have to file vat-20 form.according to returns our sale is 2000000.but according to balance sheet our sales is 1 lakh extra i.e.2100000. now what can we do as there is difference in sales according to return and balance sheet.we donot want to show differnce in vat-20 form
26 October 2009
U can file a revised return within a period of 1year or before the completion of the assessment whichever is earlier.
CA Gangadhar Mishra
(Expert)
26 October 2009
a revised VAT return can be filed within 30 days from the date of your knowledge of the mistake, but before 4 years from the date of filing giving the reason of your revising the return
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