Regarding Case Solution

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jayesh (Querist)
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27 December 2008 Dear Sir,
As Member Of This Community this is my first letter in which i would like to have solution from the members on a case, the details of which are given below.

I have sold spares to 'A' Customer under VAT@12.5% The Details of Proforma Invoice, Payment Received & Tax Invoice are as below.

A) Proforma Invoice B)Payment received
Dated 2/7/2008 Dated : 4/7/2008
Spares : Rs. 7095 Spares : Rs. 7095
VAT@12.5% : Rs. 887 CST@2% : Rs. 142
Transport : Rs. 130 Transport: Rs. 130
Total : Rs. 8112 Total : Rs. 7367

C) Tax Invoice:
Dated : 27/7/2008
Spares : Rs. 7095
VAT@12.5% : Rs. 887
Total : Rs. 7982

Now i would like to know, how to treat the above situation when the company has filed IT Return On Tax Invoice amount Of Rs. 7982.00 (Under Vat Billing)& Payment RECEIVED from client Rs. 8112 ( Under CST Billing) The Company is in Loss Of Rs. 725.00

Kindly guide me the above situation & give me the solution

Thanking You
Regards
Jayesh Kharche
Nagpur

C A GROUP COACHING

C A GROUP COACHING (Expert)
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27 December 2008 YOU CAN CALL ME & I WILL EXPLAIN YOU THE EXACT POSITION. YOU ARE GIVING A WRONG TREATMENT IN INCOME TAX P & L A/C
CHANDRAKANT AMBANI
BOMBAY
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