Sales as per vat return and trailbalance

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CA Mahesh (Querist)
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05 November 2012 Dear Sir,

While filing of VAT/CST Return , we need to ensure that Sales as per VAT/CST Return and Sales as per Trail balance will be the same. is it mandatory ??.

If not what will be consequences ??

Pls give reply

Satyendra

Satyendra (Expert)
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05 November 2012 Sales as per TB and as per return not same due to so many reasons and adjustments. So, prepare reconciliation of the same.

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CA. Hari Kishan

CA. Hari Kishan (Expert)
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05 November 2012 There is no need that Sales as per TB and sales (taxable turnover) for the purpose of VAT should be same. Taxable turnover shall include several other components ep: Sale of scrap, sale of assets, Excise duty collected on sales.. they all shall be part of reconciliation of sales..

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