The MVAT audit form 704 has been revised this year by eliminating the annexure J3 and J4 which used to be for entering the details of party-wise credit and debit notes respectively.Now the Form requires Net Sales and net purchases to be entered in JI and J2.
However if we receive sales return in current year which pertains to sales in previous year and no sales is made to that party in the current year, then we cannot enter the details of those sales return in current form in any of the annexures
Earlier it was possible to enter the same in Annexure J3.
Similar is the case of Purchases.
Kindly help on this matter
CAclubindia
