Vat refund processure
This query is : Resolved
Sunil Sharma
(Querist)
09 July 2013
Dear sir,
Please tell me sir,
i sale a battery @13.125% vat Rate. But after some time the customer return the battery. so how to take the tax to the govt.
Please tell me sir,
i sale a battery @13.125% vat Rate. But after some time the customer return the battery. so how to take the tax to the govt.
RENGARAJ R.K
(Expert)
12 July 2013
Please issue credit note to the party by quoting reference to the original sale bill in the credit note. Show the taxable turnover and vat refunded separately in the credit note. Condition: The battery should have been returned within 6 months or whatever the period allowed in your State VAT Act.
Now show the sales return value in the current month return and deduct in the current month taxable turnover. This is the claim method.
Now show the sales return value in the current month return and deduct in the current month taxable turnover. This is the claim method.
Sunil Sharma
(Querist)
07 January 2015
thank you very much.
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