Input tax credit(itc)

RAJ KUMAR BHANDARI (FINANCE) (165 Points)

31 December 2012  

DVAT (IN CASE OF 100% EXPORTER)

IF I PURCHASE SOME RAW MATERIAL FROM OUR LOCAL DEALER IN APRIL 2012, DUE TO CLERICAL MISTAKE ITC IS NOT BOOKED IN APRIL 2012, AFTER 4 MONTHS I FOUND THAT ERROR.

QUS : MY QUESTION IS HOW CAN I CORRECT THIS ERROR IN MONTHLY RETURN ?

! IF WE REVISED APRIL 2012 RETURN, THE VAT C/F WILL AFFECT FOR NEXT MONTHS

OR WE SHOLUD CORRECT THIS IN CURRENT PERIOD RETURN WITH EXPLENATION ?

PLEASE DISCUSS .....