VAT-20 RETURN PUNJAB ACT
This query is : Resolved
RAKESH kumar
(Querist)
13 November 2009
Dear Sir,
if we have balance itc b/f 1st Qtr retrn to 2nd Qtr return by short amount.
then how can we adustthe that amount in vat-20 under punjab act.
suppose Itc of 1st Qtr Rs.50000.00
and c/f to 2nd Return.Rs.45000.00
shot by Rs.5000.00
in 3rd and 4th Qtr Return.
what is the adjustment in vat-20.
plz reply sir it is urgent.
if we have balance itc b/f 1st Qtr retrn to 2nd Qtr return by short amount.
then how can we adustthe that amount in vat-20 under punjab act.
suppose Itc of 1st Qtr Rs.50000.00
and c/f to 2nd Return.Rs.45000.00
shot by Rs.5000.00
in 3rd and 4th Qtr Return.
what is the adjustment in vat-20.
plz reply sir it is urgent.
Vig , Rakesh
(Expert)
14 November 2009
You have to file Vat 20 as per return already filed with VAT deptt. while showing the difference of ITC per Books and Per Vat returns , but to consolidate you have to carry forward the itc balance in vat return for next year as per books of accounts leaving the carry forward diff.in that perticular period to justify it when assesment done.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
