22 June 2011
Dear Sir, I am a traders of dispseble surgical items. I purchased a surgical item[first time for trading purpose] and my purchaser told me that this item will come under 12.5%of VAT.and so i charged my client 12.5%.and collected the payment against delivery.when i recd.bill from my purchaser,he charged me VAT@5%instead of 12.5%and than he clarified me that sorry,this item comes under @5%of VAT. So please tell me that i have done any offence?what is the procedure to return the amt.of difference to my client? please reply me.
CAclubindia
