Andhra Pradesh Commerical Taxes: Revised VAT Returns: Why Revise Return will not change Opening Balance (OB) of Next Month ?
Dealer can file Revise VAT Return within 6 months
from the end of relevant tax period.
Revise Return will not change OB of
Next Month. OB for next month will remain as per original Return. (If revise
return is allowed to change OB for next month, in that case Closing Balance and
OB will get changed for next 6 months and dealer has to file revise return for
6 months and department has to approve all these 6 Revise Returns. It will be
heavy burden for dealer as well as department. Hence it is decided that Revise
Return will not have any impact on future Returns. Any impact of Revise Return has to settled for that month ONLY)
After facility for Revise Return has been
launched, system takes last month Net Credit Carried forward as OB for the
current tax period. Now OB cannot be changed by the dealer or by the CTO. OB will
also not change even after Revise Return is filed for any Tax period. OB will
remain same as per original VAT Return.
Impact of Revise Return will be settled
for that month only. It will not have any impact on subsequent tax periods.
0 comments:
Post a Comment