Dear All,
I have a quiery.
Our Company is filing MVAT Return after considering Sub-Contractors Deduction u/r 58. However, in FY 2012-13, we may have a situation wherin the Purchases (our Sub-contractor) Amount could be more than our Sales Bill. Considering the same, and form 407 & 408 receivable from our sub-contractor shall consist of the full amount of Purchase / contract completed by them in the said FY, can we deduct the balance unadjusted Sub-contractors Amount with the Sales bills raised in FY 13-14.
regards.
CAclubindia
