12 July 2013
Please issue credit note to the party by quoting reference to the original sale bill in the credit note. Show the taxable turnover and vat refunded separately in the credit note. Condition: The battery should have been returned within 6 months or whatever the period allowed in your State VAT Act.
Now show the sales return value in the current month return and deduct in the current month taxable turnover. This is the claim method.
CAclubindia
