Input tax restrictions on purchase return

This query is : Resolved 

31 January 2014 Dear all

We have covered under Karnataka value added tax Act 2003. we have made purchase return to our supplieer after six months. Are we supposed to reverse the input tax claimed on purchase.kindly let me know

thanking you

with regards

04 February 2014 After the six months from the date of purchase you can not treat the purchase transaction as purchase return and reverse the input tax ,you have to raise the tax invoice for that purchase return with applicable tax and have to treat the same as sales.



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