Ap vat &cst

Hi,

My question is with regard to applicability time peirod applicable for tax adjustments on goods returned from customers;

1.  Under Section 8A of CST Act  it states "Goods need to be returned within 6 months from the date of sale"

2.  Under Rule 28 of AP Value Added Tax Rules, it says "Credit notes and debit notes in respect of goods returned after sales or purchases shall be issued only when the goods have been returned within a period of 12 months from the date of issue".

Now, when liability for CST is calulated at month end, a client applying Rule 28 timeline of 12 months for adjusting tax on sales returns is it appropriate?

Happy to provide further details.  Looking forward to all your thoughts.

Thanks

Best Regards

Ram

 

Replies (1)
Hello, Any views on this? Much appreciate your responses. Thanks

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