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month purchase is very hi but sales is very low

obalreddy (accountant) (282 Points)

28 January 2010

Hello Friends In This Month purchase is veery hi Bust sales is very low, How to Returns Monthly vat in andhra pradesh Please give Me Details Thanking you

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4 Replies

CA Riswa Parekh (Practicing) (1591 Points)
Replied 30 January 2010

If the purchase is very high and sales is very low then it doesnt matter you can file return as normally and you will get input tax credit as purchase is high.

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alam (accountant) (64 Points)
Replied 01 April 2011

if purchase is high and sale is low so no problem you can return normaly and you can claim for input tax credit for excess purchase vat (input vat) but in keeping mind you can not stored over stock according to market

monikaddsi (accounts assistant ) (33 Points)
Replied 08 April 2011

at the end of the financial year.purchase is higher than sale.how we can make p & l . i am working in an jewellery export firm.i am new in this i just want to learn.can any one help me from where i can learn all these calculations of balance sheet current liabilities and current assets and all.

Thanks
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