Hi,
My Client has procured goods under CST purchases. NOw he wanted to return the goods. Hence, can any one explain the procedure under KVAT & CST in case of returned goods.
Thanks in Advance.
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Cst & vat
Replies (1)
In the case of interstate purchase return ther is no effect on input tax credit. But, you have to declare it in the monthly return VAT 100 col 9.12.1 for record purpose, if it is within six months after purchase. If a 'C form has already been issued it is to be retreived from the selling dealer and cancelled. Necessary credit note may also be issued along with proof despatch. A copy to be retained for own records......mjk
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