17 November 2011
We have sold material to our dealer for Rs.10000+ VAT Rs.100 = Rs.10100(example) and after two months the dealer returned the material to us. Intern we have raised a Credit note to the dealer for only Rs.10000 and the balance of Rs.100, system did not vat due to error in system.
THe above error was found out by us after SIX months of the original invoice date.
Now my query is whether can raise a another Credit Note for differential VAT amount of Rs.100 to dealer and the same can we take Credit while paying VAT of current month.
17 November 2011
Yes it can be raised now as a balance outstanding to previous one and credit of the same can be claimed subject to you have not claim any credit earlier.
and also said amount should be shown as disputed value for said six months.
CAclubindia
