Vat credit-sales returns
This query is : Resolved
25 June 2012
Dear all,
What is the time limit of taking sales returns - is it 30 days/ 60 days or 6 months.
Regarding Karnataka VAT.
Where I can see the Act/ Rules regarding same.
Any Fiancial yera limit is there?
We have sale returns w r t sale of 27th March 2012. Is it OK?
Regards
Anil
What is the time limit of taking sales returns - is it 30 days/ 60 days or 6 months.
Regarding Karnataka VAT.
Where I can see the Act/ Rules regarding same.
Any Fiancial yera limit is there?
We have sale returns w r t sale of 27th March 2012. Is it OK?
Regards
Anil
RENGARAJ R.K
(Expert)
26 June 2012
The sales return allowed period is 6 months. Therefore your sales return date 27.03.2012 is eligible.
Please refer section 30 of the Karnataka Value Added Tax Act, 2003.
When you issue credit note, the party should issue a vat debit note for the same amount, which please note.
rengaraj r.k
Please refer section 30 of the Karnataka Value Added Tax Act, 2003.
When you issue credit note, the party should issue a vat debit note for the same amount, which please note.
rengaraj r.k
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