Wrong tax charged on Paper Cone

[Guest]

Dear Sir,

One of our supplier in West bengal Supply Plastic Cone . The rate of Rax is 13.5% , but the suplliers supply it @ 4 % since April'12, Now he has cleared from the Department that wrong tax % is charged on plastic Cone instead of 4 % he has to charged 13.5%. Now he wants to charged Debit note of difference amount ( 13.5% - 4 % = 8.5% ) of tax.

 We have revised our return without Considering all the Details, 

So in this case if we will pay the difference amount , where we can adjust this ? bcz we cant revised our Return once again , as there is no provision in West bengal VAT Act 2003.

Please suggest , what can we do for the same transaction.

 

[YAGAY andSUN]

Incorporate the debit note or supplimentory invoice for differential VAT in the next month's VAT Return or quarterly return as the case may be and intimate to the Concerned VAT Authorities.

[Guest]

I really do agree with u , but Can u get VAT Credit on Debit note or Supplimentary invoice ?

AI Summary

VAT adjustment via debit note allows reporting differential tax in the next return and notifying authorities. Record the differential tax by incorporating the debit note or supplementary invoice in the next applicable VAT return period (monthly or quarterly) and intimate the matter to the VAT authorities; whether the recipient may claim VAT credit on that debit note remains an unresolved question under the VAT credit rules.