Hi,
My Client has procured goods under CST purchases. NOw he wanted to return the goods. Hence, can any one explain the procedure under KVAT & CST in case of returned goods.
Thanks in Advance.
1 Replies
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 26 June 2013
In the case of interstate purchase return ther is no effect on input tax credit. But, you have to declare it in the monthly return VAT 100 col 9.12.1 for record purpose, if it is within six months after purchase. If a 'C form has already been issued it is to be retreived from the selling dealer and cancelled. Necessary credit note may also be issued along with proof despatch. A copy to be retained for own records......mjk
Recent Topics
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
- TCS adjustment
- GST audit and scrutiny
- GSTR9 Table 8 - 8A and 8B difference is 4D(1). in
- Eway Bill query for inter state
Related Threads
CAclubindia
