How to adjust vat by mistake added with stock transfer invoice
Natasha Mourya
(Querist) 18 September 2014
This query is : Resolved
By mistake, Vat output 5% is added in stock transfer invoice raised on 10.09.2014. I want to know in that case what I need to do? should I deposit the Vat added in Stock Transfer invoice or make no entry in Tally. What will be the processor to handle this situation?
Note:- Stock transfer Invoice Can't be cancelled?
Its urgent..............
Atlas Eva
(Expert) 19 September 2014
contact a Chartered accountant
you need to pass a entry for claiming input credit in this case and specify that mistake in the new entry and keep it for evidence in case vat office asks for clarification
ajay sethi
(Expert) 19 September 2014
consult your CA
Natasha Mourya
(Querist) 19 September 2014
Atlas sir, When consignment was on the way, A copy of Invoice was taken by Sales tax officer & submitted to Sales tax office in Kanpur & consignor is from Lucknow. I want to know, Invoice which has been generated already can't be cancelled as copy of invoice is in sales tax office. Can it be cancelled or will have to pay Vat wrongly added with stock transfer invoice or raise journal entry in our tally by crediting party's account and raise a fresh invoice of stock transfer of current date or will have to submit an application mentioning the error in the letter????
plz it urgent.......????????
T. Kalaiselvan, Advocate
(Expert) 27 September 2014
Your tax consultant will be able to provide your with proper details based on the facts of the issue,better consult him.
Atlas Eva
(Expert) 28 September 2014
raise journal entry in our tally by crediting party's account and raise a fresh invoice of stock transfer of current date
and also intimate the department
Consult ur Senior Auditor Before u do that
Also such kind of questions should be posted on CA Club and not here
