Huzefa Hussain (Chartered Accountant) (143 Points)
20 October 2010Please Suggest the Solution and consequenses of the under mentioned query
The SALES as per VAT Rrturns (Form 14 & 1) doesnt tally with the figure of PL due to mismatch of figure and skipping of Exempt sales in some quaters.
The Returns cannot be revised and sales as per PL is greater than that of RETURN.
Awaiting Response
Harpreet
(* * * * * *)
(1670 Points)
Replied 20 October 2010
You have to revise your sales tax returns. There is no other option. Why you say that you can not revise your returns.
Huzefa Hussain
(Chartered Accountant)
(143 Points)
Replied 20 October 2010
The return cannot be revised as the mistake is found while preparing the VAT AUDIT of the concern and the last date of revised filing has elasped
Harpreet
(* * * * * *)
(1670 Points)
Replied 21 October 2010
If Vat Audit has been occured at your company then they (Vat Deptt) will raise penalty (extra vat payable) and there is no option to revise your vat return now and there will not be any problem with vat department in future as you will pay penalty on the same (on which mismatch with your books and vat returns)
CAclubindia
