MADHUSUDHANAN (Senior Process Lead) (116 Points)
22 November 2012Hi
we are using Optisuite Software (part of SAP) to calculate & file VAT return.Due to technical problem some cancelled Invoices not captured in Optisuite software (but in books properly captured) from Source document. Due to this we paid excess VAT payment.Now my question whether we can claim refund for this cancelled invoices.
Thanks & Regards
K.Madhusudhanan
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 22 November 2012
Dear
Normally for any correction against invoice already made a Credit Note will be raised to regularise the account. You have perfect explanation so why can't you raise a Credit Note for each case & square off.
subramanya
(Professional)
(907 Points)
Replied 27 November 2012
Dear Sir,
You can file Revised Return for the period and excess VAT paid can be considered as Opening Input Tax credit for the next period.
For more details, please speak to your area VAT Officer, he will assist you in this regard.
With regards,
Subramanya
"Live Course on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
