How to show Purchases Return

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lalit mohta

PCC STUDENT

42 Points Joined December 2009

If there is Purchases for the month is lesser than Purchases return made during the month from the stock in hand which is previously purchased, In Form I VAT return how we should show purchases as well as purchases return ?

Futher, if we show net purchases return ( negative purchases) in Form I, is it violation of law?

Replies (1)

Guest

u hvt to show acutal purchase and actual purchase return it does not matter if ur net purchase is coming in negative. but point to noted the good u returned should be within period of 6 month of purchase. and now input taken should be reversed and have to pay tax ...