corrected return in karnatka VAT act
santosh kumar huded
(Querist) 04 May 2010
This query is : Resolved
when a corrected return is to be filed due to airthmetical error and according to books of accounts, whether the return corrected is to be accepted or not by the assessing authority
Raj Kumar Makkad
(Expert) 04 May 2010
It requires to be accepted if it is supplementary return.
M.V.GIRI
(Expert) 04 May 2010
The corrected return to be file only when the notice has been issued by the LVO in VAT form 150.Then only the assessee can file the corrected return by rectifying only airthmetical errors. if the assessee wants to rectify his mistake he has to file the revised return within 6 months from the tax period for which it pertains. In both cases the jurisdictional LVO should accept the return.
soumitra basu
(Expert) 05 May 2010
I think it shall be better to file Revised Return within the due dates.
A V Vishal
(Expert) 05 May 2010
If any dealer having furnished a return under this Act, other than a return
furnished under sub-section (3) of Section 38, discovers any omission or incorrect statement therein, other than as a result of an inspection or receipt of any other information or evidence by the prescribed authority, he shall furnish a revised return within six months from the end
of the relevant tax period except when such revised return is on issue of a debit note under Section 30, subject to sub-section (2) of Section 72.
