Sales return - VAt credit

[venkat eswaran]

Sir,

for slaes return we r taking VAT credit back for the returned goods. there is a 6 months time period. my query is is there is any financial year limitation? that is can take credit back now  for goods sent in mar 2012. fin year 2011-12. now fin year 2012-13.   or 6 months from the date of invoice ?  kindly clarify

 

AI Summary

VAT Credit on Sales Returns: Claim Within 6 Months from Invoice Date, No Financial Year Limit A user inquired about the VAT credit process for sales returns, specifically questioning if there is a financial year limitation or if the six-month period applies from the date of the invoice. Responses clarified that VAT credit can be claimed within six months from the invoice date or receipt of goods, whichever is later, without financial year constraints. However, physical records must be maintained for verification. The discussion also touched on legal precedents, indicating that rejected goods are not subject to the six-month return period, as they do not constitute a complete sale under the CST Act or Sale of Goods Act.