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Q. > Please Help: Vat Return
Suppose a purchase is made on the basis of Tax invoice dated 30 April 2011. But we booked the invoice in MAY 2011 While filing return whether this purchase to be mentioned in the month of April 2011 (On the basis of invoice date) or May 2011 (on the basis of booking date)
answered Feb 07, 2012 by PRIYANKA , GREATER NOIDA
Invoice date is relevant while taking credit of vat on purchases , so in this case credit has to be taken in the month of april and not may.
answered Feb 08, 2012 by Ashish Karundia , New Delhi
Dear Raman,
Please note that the purchase has to be booked in the month of April and not may. In other words, i totally agree with the answer given by Priyanka.
Hope the above suffice.
answered Mar 03, 2012 by Ketan Samdani , V V Nagar
The purchase are required to booked in month of april i.e. on date of invoice.
Experts Panelist
Comments
lavina bajaj
07-Feb-2012 , 03:24:03 pmwhile filing the return the purchases has to be claimed in the month of april itself because invoice is deducted in april when we booked the purchase is irrelevant.
Deepa Jain
07-Feb-2012 , 04:38:20 pmHello Raman Gulati, You can book the purchases in the month of May and take credit accordingly, but, as per prudence rule you should booked this entry in month of April Because if you do so, you can take credit in April and secondly, your physical stock will increase in April and accordingly purchases should be account for in April Month.