REGARDING CREDIT NOTE

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....EGARDING CREDIT NOTE<br> Query (Issue) Started By: - ranjit kunar Dated:- 21-1-2015 Last Reply Date:- 25-1-2015 VAT + CST<br>Got 1 Reply<br>VAT / Sales Tax<br>What is the rule for credit note???suppo....

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....se there in an invoice in the month of March&#39;14 and the credit note raised in the month of april&#39;14. should we adjust the credit note with vat output. What is the period for taking credit note....

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.......Can we adjust service credit note eith vat output Reply By Pradeep Khatri: The Reply: Due to the time gap you would not be able to adjust the tax in the same financial year however, in the subseq....

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....uent year it may be done. Further, Service tax credit cannot be adjusted with VAT Output Tax as both are mutual exclusive legislature, i.e. one is under Central Government, the other is under State Go....

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....vernment. Regards, Sameer Malhotra- Consultant (YAGAY and SUN) -Management, Business and Indirect Tax Consultants<br> Discussion Forum - Knowledge Sharing ....