Our company sold some quatity of goods to a party on 27th March 2012.
Now we want to take that as Sales returns.
Is it permitted under VAT Act (Karnataka)
What is the time limit for taking VAT Sales returns
3 months? 90 days? 6 months or what ?
Please update urgently.
It is 6 months from the date of the original sale. The sales return should be supported by VAT credit note by the suppliers and vat debit note by the customers with product value, tax refunded etc.,
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
