reversal of input tax credit

[Guest]

We  have a sales and raw material purchase from interstate. If Scrap  is more in the interstate sales, then  how i will go for reversal mechanism? Whether it is applicable or not

[YAGAY andSUN]

Dear Ramesh,

Sales Returns are allowed within six months from the date of sale in VAT/CST laws.

Regards

Team YAGAY & SUN

(Management & Indirect Tax Consultants)

AI Summary

Sales returns allowed within six months under VAT/CST; triggers reversal mechanisms for input tax credit in interstate supplies. Sales returns are permitted within six months from the date of sale under VAT/CST laws; such returns govern corrective accounting and trigger the statutory reversal or adjustment framework for tax and input credit treatment of the original interstate supply.