hello to everyone,
i want urgent clarification on following matter.
can we take back 2% ITC reversal made in case of inter state sales, when such inter state sales returned, under gujarat VAT. also specify calculation steps for the same.
thanks in advance.
Dear Tejas
Yes you can take back the 2% ITC Reversal if the goods are not sold inter-State.
The sale return has to be within six months from the date of sale. The goods should be taken into stock and reflected in your books of accounts.
I will be able to give you a calculation if you provide me with an example with figures.
Sir how to find out seperatly local purchase or any other assumption find out ITC reversel...?
CAclubindia
