Mvat

Nothing will be happend my dear friend Radhakrishna, as during VAT Assessment they will cross check only the purchase n sale bills and they want those bills to be in that F.Y respectively. So in your case you said that bill was in 23.1.2006 and it was entered in 1.4.2007 so in this case you can convince the officer who assess that in this way only if he raises that point and seeks any explanation and don't tell by your self on that issue:

"Sir, when we bought those goods we got that bill but due to misplacement of that bill unfortunately we could not pay the tax but it was found in the subsequent months and hence we paid the necessary tax due so kindly consider this as a human error." 

Regards