Sale on return basis

Nirmit Choraria (CA Final) (1333 Points)

02 October 2012

What will be the date of sale for sale on return basis and how VAT will be calculated on it..???

Suppose the Return period is for 30days.

dose the law change for Online Business like flipkart.com..???

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2 Replies

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 04 October 2012

department allows to revise the return within 6 months of sale.

assessee can file revised return after consolidating the returned goods.

however such returns are cleared on regular assessment only.

Kolluru Krishna Murty (Partner) (315 Points)
Replied 17 October 2012

Yes sir Mr.Sharma is right in many states the revised return can be filed in 6 months.

But if I am not wrong while filing return for the month when you get sale return you may adjust the tax on sales return.

kkm

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