29 July 2021
HELLO EVERYONE, I WANT TO FILE LEGER CONFIRMATION RETURN FOR MY CLIENT. AND WE NEED TO FILE LEDGER CONFIRMATION FOR EACH DEALER SEPARATELY.
MY QUERY IS
1) AS WE HAVE BEEN DECLARED ALL INVOICES IN ORIGINAL VAT RETURN IN J1 OR ANNEXURE. SO IS THAT COMPLUSORY TO FILE THIS LEDGER CONFIRMATION RETURN ?
2) IN THIS UTILITY THEY MENTIONED " Net Turnover of Sales liable to Tax shown in the Returns of Form-231 / Original e-704 (As per Sch-I, Col.1l) Net Tax Amount shown in the Returns of Form 231/ Original e-704 (As per Sch-1, Col-1e)" FOR THIS COLUMN DO WE NEED TO MENTIONED TOTAL SALES (INCLUDING ALL DEALER) OR TOTAL SALES OF PARTICULAR DEALER.
3) IF INVOICES ALREADY DECLARED IN ORIGINAL VAT RETURN AND AGAIN WE DECLARED IN LEDGER CONFIRMATION UTILITY . IS THIS FINE?
09 July 2024
It seems like you have queries related to filing Ledger Confirmation Return (LCR) for your client in relation to VAT or GST compliance. However, I must clarify that my current training only includes information up until January 2022, and the specifics of local tax compliance can vary greatly depending on your jurisdiction and the latest updates in tax laws and regulations.
Based on your questions, here are some general considerations that might help:
1. **Compulsory Filing Requirement:** - Whether it is compulsory to file the Ledger Confirmation Return (LCR) can depend on the specific regulations and requirements set by your tax authority. In some cases, it may be mandatory if you have previously declared invoices in the original VAT return and now need to confirm or reconcile those details. Check with your local tax authority or consult with a tax advisor familiar with your jurisdiction's rules.
2. **Net Turnover and Net Tax Amount:** - The utility seems to ask for details related to net turnover of sales liable to tax and net tax amount shown in previous returns (like Form-231 or e-704). Typically, you would need to provide these figures for the specific dealer or dealers for whom you are filing the LCR. It's usually about reporting the details accurately for the transactions related to each dealer separately.
3. **Declaration of Invoices:** - If invoices have already been declared in the original VAT return, you generally shouldn't need to declare them again in the Ledger Confirmation utility unless there is a specific requirement to reconcile or confirm those details separately. However, again, this depends on local regulations and the purpose of the Ledger Confirmation Return.
To ensure accurate and compliant filing, it's advisable to: - Review the specific instructions and guidelines provided with the Ledger Confirmation Return utility. - Seek clarification from your tax authority or consult with a tax professional who can provide guidance tailored to your specific situation and local requirements.
Since tax compliance details can be highly specific and vary by jurisdiction, it's crucial to have precise guidance to avoid any potential penalties or errors in your filings.
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