Online ledger confirmation- mvat

VAT (Legacy) 6700 views 2 replies

Aditya tadaiya

Chartered Accoutants

30 Points Posted on 10 February 2019

Hello Experts,

I have a query regarding Online Ledger Confirmation Utility (LCU) introduced by MahVAT, the details reqd. in LCU in Box 1 row 3 which read as "Net Turnover of Sales liable to Tax shown in the Returns of Form-234 / Original e-704 (As per Sch-IV, Col. 1m)
Net Tax Amount shown in the Returns of Form-234/ Original e-704 (As per Sch-IV, Col. 1e)" - I have mentioned taxable value and Tax amount as instructed as above. Now, in Box 2 which read as "Customer wise Total VAT Sales and Total VAT Tax Shown in Original J-1 in the Returns/ e-704" - Here i have filled the figures of Annex J1 to Form 704. As per instruction tab in the template it is instructed to fill "Net Taxable Amount of Gross Amount in Sr No 5003" of Form 704 which is equal to box 1 row 3, now i dont have available balance to fill in Row 4 "Balance customer wise VAT Sales and VAT Tax (Eligible for filing of Ledger Confirmation)"

Then how to give ledger confirmation to customer when we have no balance left.

Replies (2)

Kiran Malviya

Employee

40 Points Posted on 02 January 2020

Where to put credit note has been issued to Purchaser against the Sales made during the previous financial year and credit note issued in the current financial year ( i,e which is within 6 month of the sales)

Milind

sgd

24 Points Posted on 13 July 2021

Excel utility file does not allows negative amounts of Credit Notes. We were trying to upload invoice transactions for FY 2017-18 (Apr-17 to June-17), which includeds credit notes against invoices raised in FY 2016-17. These credit notes are within 6 months of the original sales invoices. Request way out for this from experts on the portal. Thanks.