Sanjay (CA Final n CS Final) (324 Points)
08 March 2010
Hello friends!
My 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 VAT RETURN FOR THE MONTH OF APRIL?
megha
(Working )
(71 Points)
Replied 08 March 2010
As the goods has been received in Jan '10 and it has been accounted as closing stock in the books before March, so you can take the credit in march only.
And only remedy available to you is revising the return.
This is as per my best knowledge
subramanya
(Professional)
(907 Points)
Replied 09 March 2010
| Originally posted by : Sanjay | ||
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Hello friends! My 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 VAT RETURN FOR THE MONTH OF APRIL? |
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Dear Sanjay,
Supplier Invoice Date is : 27.03.2010
In your books of Accounts purchase voucher date is : 25.04.2010
As it is a practical scenarios, you can claim VAT Credit in the month of April -2010.
We should consider others opinion also.
with regards,
Subramanya
M P Singh
(Service - Finance & Taxation)
(180 Points)
Replied 10 March 2010
Hi ,
As per the provisions of DVAT Act any registered dealer can claim the VAT input benifit in his return only on the basis of a VALID TAX INVOICE in his possession while filing the VAT Return as per provisions of the act .
It is pertinent to note here........if you are a monthhly dealer an will receive the invoice on 25.04.2010 than it has to be considered in the April,10 return otherwise you can revise the return of March,10
Regards
CAclubindia
