Purchase return

How to treat purchase returns in TNVAT Form-I. please help me urgent.

Replies (1)

Dear Pandian

As you ask about the treatment of purchase return in tamilnadu vat form-1, I would like to say that if the purchase returns are related with same month, then the net purchases should be shown in point no. 1 (Input items) alongwith input tax credit if allowed. ex: I am registered dealer of TN and purchase goods rs. 10000 in april and return the goods rs. 2000 within same month by issuing either debit memo or passing the entry in my books of account. so in the month of april return filing  i will show my net purchases as rs 8000 alongwith itc. But if the purchase return are made in the month of may and itc of all the goods  purchased has already been taken. itc claimed earlier should be reversed. in point number 2 ( reverse input tax cerdit)

 

Thanks

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
ARTICLESHIP 14 August 2026
Article Assistant

N J Suresh & Associates

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
18 August 2026
Audit Assistant - Remote / Work From Home

CA ANOOP P K & ASSOCIATES

Kozhikode

CA Inter

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
11 August 2026
Chartered Accountant

Aviv Global Pvt Ltd

Ahmedabad

CA

View Details
Company
25 August 2026
Senior Accountant

MG Associates

New Delhi

CA Inter

View Details