suraj singh chauhan (Accountant) (124 Points)
28 April 2012MY COMPANY RECEIVED GOODS COSTING RS.10000, VAT(4%) RS. 400 ON 28TH MARCH 2012 BUT NOT RECEIVED INVOICE. WE HAVE TAKEN THE INPUT CREDIT OF VAT WHILE PREPARING RETURN BUT INVOICE ACTUALLY RECEIVED ON APRIL 15 2012 AND INVOICE DATE IS 4TH APRIL 2012.
PLS SUGGEST ME IN THIS SITUATION WAHT ENTRY I PASS ON 28TH MARCH 2012 AND ON 15TH APRIL 2012
I AM CONFUSED AS VALUTION OF CLOSING STOCK DONE ON PHYSICAL STOCK TAKING, BUT INVOICE WE RECEIVED IS NOT OF AY. 2011-12
Nitil Kr. Agarwala
(Persuing CS)
(264 Points)
Replied 28 April 2012
Dear Suraj,
You can't pass the accounting entry in absence of invoice. In your situation, i suggest you to revert back the entry made on 28th april and then pass the fresh entry of invoice date.
Thanks & Reards,
Nitil Agrawala
suraj singh chauhan
(Accountant)
(124 Points)
Replied 30 April 2012
BUT WHAT ABOUT THE INPUT CREDIT THAT WE HAVE TAKEN WHILE PAY VAT LIABILITY FOR THE MONTH OF MARCH.
Mohd Salman
(Chartered Accountant)
(47 Points)
Replied 30 April 2012
U can revised the return & Input Would be reduced by that amount as Credited in the Last Return
& Liability Increase which will be paid at the time of revised return
DIBYENDU
(SERVICE)
(266 Points)
Replied 30 April 2012
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