Return - revise - claim of input vat

[Guest]

WE HAVE FILED OUR VAT RETURN FOR 30-09-2007 AND NOT ACCOUNTED FOR SOME PURCHASE BILL WHICH WERE TAX INVOICE. CAN WE REVISE OUR RETURN AND TAKE THE CLAIM OF INPUT VAT WHICH WAS NOT ACCOUNT FOR AT THE TIME OF FILING OF RETURN. AND IF WE DON NOT WISH TO CLAIM THE INPUT VAT THEN WHETHER WE SHOULD REVISE OUR RETURN TO TALLY THE PURCHASE FIGURE FROM OUR BOOKS TO FILED RETURN.

[Guest]

There is no provison for any revised return udne the VAT. But you can carry out adjustments in the subsequent month' returns for correcting the mistakes made in the earlier return. You account for the tax invoice in the current month and claim now. If you have a VAT bill and do not claim, the state should be happy. Only if an when assessment is taken up you should submit a reconciliation. You can show it in the current return that you have not claimed the VAT under VAT not payable provided you do not do it for any other tax evasion purpose. Why you do not want to claim the VAT?

AI Summary

Input VAT claim may be adjusted in subsequent VAT returns; no separate revised return is permitted. There is no provision for filing a revised VAT return; omissions of input VAT should be corrected by making subsequent month adjustments, accounting for the relevant tax invoices in the current or later return and claiming input tax then. If input VAT is not claimed, the taxpayer must reconcile returns and records if assessed and may record the amount as not claimed in the current return provided this is not used to effect tax evasion.