HOW CAN WE EFFECT SALES REUTRN AFTER FILLING OF MVAT RETURN ? IS REVISED RETURN IS ONLY ONE WAY FOR THAT & IF WE FILE REVISED RETURN THEN WHATS ABOUT DIFFERENCE BETWEEN VAT RETURN & YEARLY ANNEXURE ?
Chetan Kasav (Accountant) (65 Points)
07 June 2012HOW CAN WE EFFECT SALES REUTRN AFTER FILLING OF MVAT RETURN ? IS REVISED RETURN IS ONLY ONE WAY FOR THAT & IF WE FILE REVISED RETURN THEN WHATS ABOUT DIFFERENCE BETWEEN VAT RETURN & YEARLY ANNEXURE ?
Chetan Kasav
(Accountant)
(65 Points)
Replied 08 June 2012
@ GANESHAN THANK YOU SIR , BUT PLEASE CAN YOU TELL HOW CAN WE MENTION IT IN VAT E RETURN ( FORM NO 231 ) ?
in form 231 column 5] a) show r gross turnover of sales for example Rs.12000/- (net Rs.10000/- vat rs.2000/-)
b) less the amt of sales return including vat amt say Rs.2400/- (net Rs.2000/- vat rs.400/-)
c) less tax on sales and also less sales return vat rs.1600/- (sales vat Rs.2000/- less sales return vat rs.400)
from the above example your gross sales 12000
less sales return -2400
less tax (rs.2000-rs400) -1600
net sales will be Rs.8000
still u have doubt pl reply
in form 231 column 5] a) show r gross turnover of sales for example Rs.12000/- (net Rs.10000/- vat rs.2000/-)
b) less the amt of sales return including vat amt say Rs.2400/- (net Rs.2000/- vat rs.400/-)
c) less tax on sales and also less sales return vat rs.1600/- (sales vat Rs.2000/- less sales return vat rs.400)
from the above example your gross sales 12000
less sales return -2400
less tax (rs.2000-rs400) -1600
net sales will be Rs.8000
still u have doubt pl reply
Chetan Kasav
(Accountant)
(65 Points)
Replied 10 June 2012
@ GANESHAN Thanx sir ,
But material was sales in feb 12 & returned in may 12 then can we less this amount in next upcoming return ? i.e April 12 To Sep 12. & we was mentioned this sales in yearly annexure of 2011-12 , then ?
Manish
(Service )
(22 Points)
Replied 22 September 2012
we have received sales return of the more than six month and due to this i m not cosidering the mvat credit but how can i show the figre in the form 231. we need to revised the return. kindly help me for this.
Manish
devang
(Trainee)
(22 Points)
Replied 10 July 2013
Dear all friends .i am facing one problem in filing MVAT Return .
E.g.i have Total Sales for the 1.1.13 to 31.3.13 is 5,00,000 @ 5% VAT of Rs. 25,000. so Gross Sales=5,25,000.
Now in the month of May i receives Sales return of 3,00,000 @ 5% VAT of Rs 15,000.Gross=3,15,000.
But in the 1st querter i.e. 1.4.13 to 30.6.13 t/o of sales is only 1,05,000 gross.
So how can i book sales return in the same Return.Sales return is within 6 month on sales.
Kindly reply in this regards.
Thanking you
Devang Soni
Durga prasad N
(Finance Officer)
(57 Points)
Replied 04 October 2013
hi to all
i would like to ask one more point related to this issue, if sales return after six months on which vat was already paid
what to do
is that amount booked as loss
or
what happens if the buyer is also doing the same business and those rejection/ returns are shown as purchases from the party to whom we have sold and avail input.
Nilesh Naranbhai Ahir
(Student CMA)
(21 Points)
Replied 19 May 2015
Sir what entry should be passed if we have to reversal of Sales Return vat which is more than 6 months.
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(without recording)
CAclubindia
