Purchase return or Sale return

[unmesh ---]

At the time of preparing vat liability can we take credit of purchase return / sale return material.

If yes then what will be procedure for taking the credit.

waiting for feedback.

AI Summary

Clarification on VAT credit for purchase or sale returns: Submit Debit Notes or Invoices within six months. Documentation is key. A user inquired about taking credit for purchase or sale returns when preparing VAT liability, specifically within six months from the transaction date. A consultant advised that documentation like Debit Notes or Invoices should be presented to the assessing authority within the specified timeframe. The user sought further clarification on the procedure and eligibility for credit within this period. Another participant noted that sales tax regulations vary by state, and proper documentation is crucial to avoid credit rejection during assessment.