Turn over discount (tod)
This query is : Resolved
20 August 2011
My Client has received TOD for the sales of last financial year. Whether the same is required to be shown in the monthly VAT return of the client? If so, how is the treatment to be shown and under which act?
U S Sharma
(Expert)
20 August 2011
follow the voucher, if the vat amount is reflected in voucher ( issued by company) then its discount on purchase, and to be reflected in vat returns.
if the vat is not reflected then its cash disoucnt (not vat related)
if the vat is not reflected then its cash disoucnt (not vat related)
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