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
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 9819408963 9821240674
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