Requriment of accounts confirmation statement

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This query is : Resolved

aditya (Querist)

24 August 2013 Dear Sir,

i wanted to know that,
1) is it necessary for sales tax audit / assessment to present / submit duly signed account confirmation statement.

2) as there are around 75 - 90 vendors having only 1 or 2 transactions it is very difficult for us to compile with it.

3) kindly guide me on what is exactly required account confirmation statement of all vendors OR creditors as on 31st march.

Kindly do the needful.

regards,

Aditya

MJ Krishnamurthy

MJ Krishnamurthy (Expert)

25 August 2013 It is nott clear as in which state you are situated. However, a vendor statement is about the purchases you make as inputs to your manufacturing process. Here,full details of the invoices,value the goods and their TIN nos are required. The vendors are required to confirm on the invoices itself about their tax payment in some states. In few other states it is mandatory to do so.The department may cross verify the genuineness of each transaction through their system.Hence,it may be enough to submit a list of purchases from vendors with all details stated above......mjk

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