We have been deducting Out put VAT on Sales Retunrs.
By passing following entries
When Sale is made
Party a/c Dr
To Sales a/c
To Out put VAT a/c
When Sales returns
Output VAT a/c Dr
Sales Returns a/c Dr
To Party a/c
Now department people are telling that VAT should not be deducted on sales return
Pls advice me
V.K. Ranjan & Co(Chartered Accountants)
New Delhi
B.Com
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Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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CAclubindia
