Can we get Input VAT for Sale Return?
Suppose a company sold goods in March-2013 and paid VAT on the same. But in July-2013, if the goods were returned, what should be treatment of VAT?
Should we take it as Input VAT and set it off with Output VAT?
And if that Input VAT is more than Output VAT in July, can it be carried forward to next month?
Sales returns are allowed as a deductions form the turnover subject to the goods are returned within 6 months from the date of delivery of goods. (As per KVAT)
Please specify the name of the state while asking question related to VAT.
| Originally posted by : CA vinod | ||
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Sales returns are allowed as a deductions form the turnover subject to the goods are returned within 6 months from the date of delivery of goods. (As per KVAT) Please specify the name of the state while asking question related to VAT. |
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for State : Andhra Pradesh
If sales return is more than turnover, can it be carried forward?
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