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Cst return to be revised ?

436 views 1 replies

Satish Joshi

Accounts Officer

41 Points Posted on 18 December 2013

Hallo,

Can anybody please help me on this question.

We have invoiced to an interstate customer on 25.03.2013. The material was returned to us on 25.08.2013.

My question is ;

1. In which year the sales return is to be shown. in 2012-13 OR 2013-14 ?

-- If to be shown in 2013-14, we will not receive C form for the transaction. Whether we need to pay differential tax liability ? OR there is any other alternative ?

Replies (1)

Piyush Tanwar

Assistant Manager - Accounts

1432 Points Posted on 19 December 2013

Sale return is to be shown in 2013-2014. For sale return, you considered the date of sale return invoice date. if it is of 25.08.2013 then you should show your return is the 2013-2014. You can get C-form from the buyer in which he will be showing Sale amount Less Sale Return Amount. If you will not receive C-form from the buyer, then you have to pay Tax plus interest on missing C-forms. Thanx & Regards Piyush Tanwar Article Assistant At Tiwari & Associates Karol Bagh Email - imcoolpiyush.tanwar @ gmail.com