03 November 2009
we are distributor firm.we have submitted our balance sheet for 2008-09.Due to some wrong entry by accountant,our sales were shown 1 lakh extra in balance sheet.now,we have to file vat-20 form.according to returns our sale is 2000000.but according to balance sheet our sales is 1 lakh extra i.e.2100000. now what can we do as there is difference in sales according to return and balance sheet.we do not want to show differnce in vat-20 form.The sales in balance sheet are wrong.Can we revise balance sheet or can we show extra sales in balance sheet as tax free sales (E1 C1). we have already shown 5 lakh tax free sales in vat monthly returns. can we show tax free sales as 6 lakh to cover 1 lakh deficiet.
CAclubindia
