Sachin More (MBA-Finance Executive - accounts & Finance) (422 Points)
03 July 2013Dear all,
can we claim refund in below case.
we have reversed 1 bill in which we have charged 5% vat on value. we have reversed this bill after 6 months.
and same bill we have arise in next year with same value ...have i charged vat again in this year ..
CA Harshal Pahade
(Professional)
(79 Points)
Replied 15 July 2013
You can not take credit if the goods are returned after 6 months.
Also, in the current year, you have to charged vat on sales.
CAclubindia
