Hello ,Sir My Name Is venkat
i have a problem With one of my client ...Regarding VAT ,My Client Purchases some goods (related to electrical goods)
They Charged 14.5% tax ...In that goods Some goods are sent back ,,,for that they send me credit note for that amount ,,.my problem is they send goods for that credit note amount,,including with Tax,,,,How can i get back my VAT amount and credit notes amount,,,i dont know plese rectify my problem.....
Tax office is in HYDERABD Andhrapradesh
The amount of the Purchase Returns and Purchases mixed together. First claim the Purchase Returns and declare the same in the monthly returns in which month the credit note is received and reverse the Input tax claimed if VAT is claimed. Then, show the purchases as Purchases and claim the input tax as mentioned in the bills.
If they are sending goods, then it is for replacement and no VAT can be claimed again, as you have claimed VAT Input tax already. You can only claim the difference.
CAclubindia
