debit note, VAT + CST

[Sanjay Singh Bora]

How to treat Debite note after six month

Stock value=Rs. 10000 and vat is 5% , total value=10500

But vendor is issued credit note = ₹ 10000

Who pay vat=Rs.500

Posts / Replies

[Ganeshan Kalyani]

Sir VAT credit on sales return is not eligible if sales return happened after six months. Hence the credit note would not carry the vat element. Thanks.