Vat return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 April 2017 Hello frnds.

Please let me know, is there any ratio is required to check before filing VAT return with regard to purchases and sales.

Eg: Purchases 1,00,000
Sales 2,00,000
% of purchases over sales 50%

Is this computation is required ??

Guest

Guest (Expert)

22 April 2017 No such ratio not to be checked while filling return

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2017 Dear Somil,
Thank you sir for your response.
I have one more query, Are Sales return details to be mentioned while filing VAT returns ?

Guest

Guest (Expert)

22 April 2017 Yes you have to show sales return separately by selecting proper code i.e whether it is sales return or credit note.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2017 Sir..
Is there any problem/consequences to face, even though filed the returns without disclosing Credit note details.

Guest

Guest (Expert)

22 April 2017 Ideally it should be to shown as it will reflect your correct turnover and liability.

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2017 Thank you sir for your great patience replies :)

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