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Itr 5 vat in itr software utility

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(Querist)
22 August 2012 The profit and loss tab in the form, requires the input and output vat figures, and the vat payable to government.

we are making 5% purchase and 2% sale, as per the format given, 3% is added in the income, what is the remedy for this, in the absence of any column for vat refund?
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CA VISHNU GAVKARE

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CA VISHNU GAVKARE (Expert)
23 August 2012 Dear Ratnmani,
remaining VAT of 3% is not your Income its just a refund of tax paid to person from whom you purchased Software. If you debit entire 5% and credit 2% to profit and loss account then you have to take balance as Income otherwise it need not to be taken as Income.
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