uma (chartered accountant) (38 Points)
26 January 2012in case of principal aget relation ship exist, agent is required to file vat return?
invoice is raise in the name of agent, agent sell the goods in the name agent but actually sale proceeds remitted to principal. agent income is only sales commission no other income. unsold stock lying with the agent at year end how to disclose in his books?
here the question is agent requird to file vat return? IS required to disclose sales and purchases in his book?
sai kumar
(CA)
(160 Points)
Replied 26 January 2012
Agent no need to file th VAT return,,,,in fact Principal has to file the vat return because agent is getting only the sales commission as income ,,,eventhough the sale proceeds in the name of agent,,,,,,,,,
CAclubindia
