reversal of vat credit
This query is : Resolved
madhur gupta
(Querist)
09 September 2008
hello friends..
i am doing audit of co.who has not reversed the credit availed on purchase of goods when these r returned
so now as an auditor what should i do?
bcoz all types of vat returns has already been filed by co.
n what will b the solution now
as an auditor,whether i should make it correct or
what to do?
i am doing audit of co.who has not reversed the credit availed on purchase of goods when these r returned
so now as an auditor what should i do?
bcoz all types of vat returns has already been filed by co.
n what will b the solution now
as an auditor,whether i should make it correct or
what to do?
09 September 2008
I hope there is still time to revise Form VAT 115 whihc is an annual return wherein you consolidate allll motnhly return, you can reverse the credits and file revise Form VAT 115.
Form VAT 115 has to be filed within 60 days after the close of the year and it can revised upto six months from the date of filing. You should have some time. Check
Form VAT 115 has to be filed within 60 days after the close of the year and it can revised upto six months from the date of filing. You should have some time. Check
CA. Harinder Kumar
(Expert)
10 September 2008
i am fully agree with Mr. Kotresh
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