07 March 2010
Sale is recognised as per the provisions of the Sale of Goods Act in VAT this is mentioned in the defination of sale. So depending on the terms of sale the passing of ownership takes place and VAT applies accordingly.
07 March 2010
I want to know in which month Vat- credit can be taken for Purchase made- 1)Challan date-30.12.2009 2)Bill date-27.03.2010 3)Bill arrival date-04.04.2010
08 March 2010
In my opinion, it is in the month of March 2009 because ownership passes in the month of March 2009. Bill dt 27-03-2010, Delievery already taken place in Dec. 2009. Assuming you had typed the date wrongly as 27-03-2009 instead of 27-03-2010.
08 March 2010
Further query is as follows:- 1)Challan date-31.12.2009 2)Goods arrived in the premises on:-01.01.2010 3)Bill send by Supplier-Bill date-27.03.2010 4)Bill received by Purchaser on-25.04.2010 5)VAT return for March 2010 filed on 24.04.2010.
CAN THE VAT CREDIT OF ABOVE BILL DATED 27.03.2010 CAN BE CLIAMED IN THE MONTH OF APRIL?
CAclubindia
