revised return under sales tax in tnvat

[Ramakrishnan Seshadri]

Dear Sir,

Could any body guide us or tell us how to prepare the revised return under sales tax under tnvat act.

One small example.

We have filed the original return for the sales made to the customer say as ₹ 100/- by paying vat @ 5% as ₹ 5/-.

Now the customer pays us only ₹ 90/- and balance ₹ 10/- he is not paying and says as cost reduction. He has taken input credit for ₹ 5/-.

This will not match with the sales figure as per books. Hence we need to file a revised return.

How to file it.

Thanks

S.Ramakrishnan.

AI Summary

Revised return under TNVAT: guidance sought to reconcile declared sales and output tax when customer reduces payment A taxpayer seeks guidance on preparing a revised return under TNVAT after a purchaser pays less than invoiced and claims input credit, creating a mismatch between declared sales and book figures. The query asks how to adjust the original return and reconcile output tax and sales figures in the revised return to reflect the reduced realisation and the purchaser's input credit claim.