TaxTMI 
TaxTMI 
How to treat Debite note after six month
Stock value=Rs. 10000 and vat is 5% , total value=10500
But vendor is issued credit note = ₹ 10000
Who pay vat=Rs.500
debit note
05 Apr 2016 
1 Reply 
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VAT credit ineligibility after delayed sales return bars VAT on the credit note and prevents VAT reversal.
VAT credit on a sales return is not available if the return occurs after the six month limitation; therefore a credit note issued for the goods' value will not include the VAT element and the credit will exclude any VAT reversal. (AI Summary)
VAT credit on a sales return is not available if the return occurs after the six month limitation; therefore a credit note issued for the goods' value will not include the VAT element and the credit will exclude any VAT reversal. (AI Summary)