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?
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 ...
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