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Sales return

14 March 2013

If goods are returned on 10.03.13 for which sales were made in February month then this sales retrun to be considered while computing DVAT for the month of February......as till 10.03.13 DVAT has not been paid and before payment we know that goods has been returned for which sales were made in February?

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11 Replies

Vardan Singh Sengar (Accounts Manager in Private Company) (433 Points)
Replied 14 March 2013

upto my knowledge vat is payable on the net sales made during the month

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Ramanuj (Accountant.) (834 Points)
Replied 14 March 2013

Dear all

If you made sale in february and sales retrun is 10.03.2013. I think DVat return is not gone as on date so you have to be adjusted tax . Sales minus sales return. You have net amount to be paid to Dvat. becouse this is sales return for the months of february.

Thanks

Akshay Chitragar (Sr.Accountant) (29 Points)
Replied 14 March 2013

There is no rules that u have to take consider ( sales return in that month ) you can also debit the sales in this month also.

Clarification : 1

File return of FEB as usual

Wile filing the return of Mar month you have to take consider of sales return.

Sales - Sales return

Clarification 2 :

wile filling the return in Feb you can show the sales return in FEB month by using Debit note & credit Notes.

yogesh (article) (133 Points)
Replied 14 March 2013

just consider the date of credit note and if in feb then u should take in feb otherwise in march.

Piyush Tanwar (Assistant Manager - Accounts) (1432 Points)
Replied 14 March 2013

As per DVAT act,

1. You must show your gross sale ratewise in the return.

2. VAT amount of the sale amount returned will be adjusted. and will shown in the Annexure of ADJUSTMENT TO OUTPUT TAX on 3rd page of the return in A1.4 in your respective monthly return or Quarterly return as case may be.

Effect : - it will reduce the output tax and as well as ypur DVAT payable, if any.

This is confirmed way.

Piyush Tanwar

Article Assistant at Tiwari & Associates, KArol Bagh

New Delhi

MObile- 09717468521

Email- imcoolpiyush.tanwar @ gmail.com

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CA Parul Saxena (CA) (8450 Points)
Replied 15 March 2013

Mr. piyush i know all these things....but my question is different....

HARI PRASAD (M.COM) (172 Points)
Replied 15 March 2013

Sir, i would suggest you to consider the sales returns when u file the Feb'13 DVAT returns to department as deducting the same from sales - sales return or

Calculate the out put tax on sales and then compute the tax on sales return take the amounts as VIZ

OUTPUT TAX = RS.50000

LESS : TAX ON SALES RETURNS RS 2000

TOTAL TAX PAYABLE IS RS. 48000

I conclude

CA Parul Saxena (CA) (8450 Points)
Replied 15 March 2013

With due respect to all replies i would like to tell all of you that i know sales return is to be considered for computing tax....please do not tell me how to compute tax....my query is very specific and in respect of time period that when to consider such sales return......in February or March.....so please don't tell me how to compute tax

HARI PRASAD (M.COM) (172 Points)
Replied 15 March 2013

Sir,In VAT Laws, Sale should be return back within 6 months from the date issue of invoice or receipt of material whichever is later. And so, here the goods have been received in subsequent month, therfore u can consider the same in feb month returns that u file in subsequent month.

I conclude