Vat

One of my client has obtained registration of VAT last year but did not maintain any bill of purchase and sale and from current year he wants to maintain all records nd file vat return.. please tell me what to do of previous year now?
Replies (2)
One or the other you will have to pay vat. For that you will need books of accounts and financial statements. So it will be better to prepare books of accounts through various measures : bank statement will give you list of customers and suppliers. Take entire ledger along with stock from those parties and incorporate in your books. Then send request letters of detailed ledgers of previous years to parties whose name aapear in current year bank statement. Stock inward outward will help you trace stock shortages and thus potential suppliers. You can take purchase party report from officer ( if in Maharashtra ) or check ITC report in online website under dealer information system. Like this you will be able to prepare and finalise books. Then ratios of g.p and n.p will help you more in finalisation. Regards
Thanks for ur valuable rply

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details