I have few doubts in billing process. One of my senior officer says, We have to give discount on the amount after charging VAT. But If we give give discount after charging vat then it will be like we have given discount on vat also.
And if it is the correct process then, in vat returns we have to show the vat amount on which bill has been raised.
22 March 2012
Mr Sravan Patnaik, VAT is to be charged on the net bill amount i.e. after all the discounts.Otherwise you will be collecting excess tax which becomes an offence....MJK
CAclubindia
