banner_ad

Non Reversal of VAT INPUT in Purchase Return

DVat 3223 views 1 replies

Dear Sir/ Madam,

I am facing problem in one of VAT Entry , Need Help from you Pepoles.....

I have received a Credit note Against Purchase Return , as the purchase is more than 6 months old, so the supplier didnt reversed the VAT TAX, they issued the credit note only for the Basic Value/ Assessable Value, Now the Problem is i also have to forward this credit note to my dealers.

As the VAT TAX is not reversed in Credit note becoz of that the Purchase Account & Input Vat Tax account will not match, if i enter the credit note then the purcase account will be decreased but the input tax account will be on the higher side..

So,, kindly help me on this issue ,,, many many thanks ,,,


Replies (1)

In my opinion, you have to make reverse entry for the credit note even after 6 months   so that puchase and input both wiil be reduced in books . but in vat return reverse the input as ineligible input tax


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details