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Mumbai VAT Return

Anoop (Service) (345 Points)

05 March 2009

How can I file a vat return in Maharashtra if net sales in negative (Sales return is more than sales in a month) because as per my knowledge dept. website not accepts negative returns? Pls. also inform how can I get refund for the same?

anoop

anoop7841 @ gmail.com

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Anoop (Service) (345 Points)
Replied 10 March 2009

Originally posted by :Anoop
"	How can I file a vat return in Maharashtra if net sales in negative (Sales return is more than sales in a month) because as per my knowledge dept. website not accepts negative returns? Pls. also inform how can I get refund for the same? anoop anoop7841 @ gmail.com	"

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LAXMIKANT JAIPURKAR (Practicing Company Secretary/Tax Consultant) (403 Points)
Replied 10 March 2009

1) Regarding the negative sale : Kindly send the query to helpdesk of Maharashtra VAT. Please visit the website : www.mahavat.gov.in.

2) Regarding the claim of refund, file the form 501 alongwith statement of bills on which set-off is claimed alongwith the copies of the bills on which the set-off is claimed. The summary of sales also requires to be submitted like total sales, oms sales, tax-ratewise sales, etc.

3) After submission of 501, the sales tax authorities, asks some information like sales registers, original purchase/sales bills, "C" forms for the goods sold, debit/credit notes alongwith register, etc. If they satisfied, they grants the refund. Sometimes, in the big amount refunds, the sales tax authorites visits the place of business and confirms the activity for proper understanding of the purchases and to grant the refund.