Same value of output and input
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 November 2012
if a dealer billed other dealer at a same rate which sold by other dealer at a same price.and then 1st dealer issue a credit note for difference amount to other dealer.how should other dealer take input for vat calculation? pls reply soon.
08 November 2012
Mr Author,
The second dealer should only rectify his return,if already filed,to reduce the excess input claimed and pay the diffrence of tax.If not,make necessary accounting entries and declare the correct amount of purchase figures in the returns....MJK
The second dealer should only rectify his return,if already filed,to reduce the excess input claimed and pay the diffrence of tax.If not,make necessary accounting entries and declare the correct amount of purchase figures in the returns....MJK
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