TaxTMI 
TaxTMI 
TaxTMI 
Purchase return or Sale return
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....urchase return or Sale return<br> Query (Issue) Started By: - unmesh --- Dated:- 19-9-2015 Last Reply Date:- 22-9-2015 VAT + CST<br>Got 4 Replies<br>VAT / Sales Tax<br>At the time of preparing vat liability can we take credit of purchase return / sale return material. If yes then what will be procedure for taking the credit. waiting for feedback. Reply By YAGAY AND SUN: The Reply: Dear Unmesh....
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...., Purchase return/Sales return should be within six months from the date of Sales/Purchase as the case may be. Debit Note/Credit/Invoice/Bill along with way bill (if applicable) should be produced to the assessing authority/audit team within prescribed time limit. Regards, YAGAY and SUN (Management, Business & Indirect Tax Consultants) Reply By unmesh ---: The Reply: Dear sir Thanks for fe....
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....edback. But my query still remain. i.e what will be procedure if we recd purchase return / sale return within six month from date of purchase / sale. Can we take benefit of credit or not ?? Waiting for feedback. Reply By unmesh ---: The Reply: Dear sir Thanks for feedback. But my query still remain.i.e.what will be procedure if we recd purchase return / sale return within six month from ....
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....date of invoice. In that case can we take benefit of credit or not ?? or we should revised return ?? Waiting for feedback. Reply By ganeshan kalyani: The Reply: Sales tax been state subject the periodicity of return of good differs. If return is within the prescribed period of month then credit will rightly be eligible. The documentation part is very essential as failure in proving the time per....
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....iod of return would liable to rejection of credit during assessment.<br> Discussion Forum - Knowledge Sharing ....