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Vat return

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Querist : Anonymous

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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 ??
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Guest

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Guest (Expert)
22 April 2017 No such ratio not to be checked while filling return
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Querist : Anonymous

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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 ?
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Guest

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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.
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Querist : Anonymous

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

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Guest (Expert)
22 April 2017 Ideally it should be to shown as it will reflect your correct turnover and liability.
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Querist : Anonymous

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