Vat collected more than the rate provided

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Nishakar Sahoo (Querist)
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13 May 2010 Sir,
I have collected Vat more than the rate provided for example instead of 4% I have collected 8% so accordingly I deposited into the Govt. Account what ever I collected. So at the time of Vat return filing I declared whatever vat collected and deposited. So is there any problem with this matter in relation to sales tax or income tax law.

Sanjeev Kumar

Sanjeev Kumar (Expert)
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14 May 2010 No. but if later on customer issue a debit note regarding this excess / wrong collection of tax then only you can face a truble with customer only. IN such cases you always should inform and issue a accounts note to customer.