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Vat sales return

Chetan Kasav (Accountant) (65 Points)

07 June 2012

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 ?

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12 Replies

(Guest)

i dont think u hv to make any revised vat return. u can get the credit vat on sale return provided u get sales return within six months from the date of invoice, in that month/quarter/six monthly inwhich sales retrun made.

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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 ) ?

(Guest)

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

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(Guest)

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

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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 ?

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(Guest)

ans to ur Question : Yes, bcoz u can take the credit of vat on sales return within 6 months as i said earlier. in ur case april 12 to sept 12.

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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

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.