VAT online Return

[guna ch]

Dear sir,

my Inter-state sale is rs. 1,58,85,470/- and CST Collected is Rs.3,17,701/-

I am showing net sales in the online VAT return form 200 as 15885470/- (Sales Others-CST )

one of my superior  said that here we should show gross including CST.

What is correct kindly advise me sir we are from Andhra Pradesh

[YAGAY andSUN]

In APVAT Act, the sale price is defined under Section 2 of the APVAT Act, 2005.  According to this defintion t he sale price will included the duties of excise but will not include the amount of any tax charged under APVAT Act read with APVAT Rules, hence, in the Online returns, the taxable amount will be e ntered.

On the basis of this taxable amount the liablity of tax under APVAT will be calculated, which should be reconciled with your financial otherwise, you would have to provide the justification or reconciliation at the time of Assessment /Audits duly conduted by the APVAT Department.

Please check the definition of the Sale Price under APVAT Act, 2005.

[SPIC Ltd.]

Dear,

Pls show the net amount.

 

[guna ch]

Thank You

 

[YAGAY andSUN]

You would have to show the Net amount ( Which is Rs. 15885470/-) of taxable amount under CST Act, 1956.  Please ask counter question to your senior that what is the basis to show the gross amount in Online Return under CST Act, 1956.

According to my knowledge and experience, only taxable amount should be uploaded.

AI Summary

Taxable amount reporting: record net sales excluding VAT/CST in online returns to reflect taxable value. The statutory definition of sale price excludes any tax charged under the VAT rules, so online returns should record the taxable amount (net of VAT/CST); that net taxable value is the basis for calculating VAT liability and must be reconciled with accounting records to support assessments and audits.