Vat collected more than the rate provided
This query is : Resolved
13 May 2010
Sir,
I have collected Vat more than the rate provided for example instead of 4% I have collected 8% so accordingly I deposited into the Govt. Account what ever I collected. So at the time of Vat return filing I declared whatever vat collected and deposited. So is there any problem with this matter in relation to sales tax or income tax law.
I have collected Vat more than the rate provided for example instead of 4% I have collected 8% so accordingly I deposited into the Govt. Account what ever I collected. So at the time of Vat return filing I declared whatever vat collected and deposited. So is there any problem with this matter in relation to sales tax or income tax law.
14 May 2010
No. but if later on customer issue a debit note regarding this excess / wrong collection of tax then only you can face a truble with customer only. IN such cases you always should inform and issue a accounts note to customer.
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- Section 50-fixed asset-->building ceases to exist
- Tds on commission charges
- 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
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
