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VAT

Querist : Anonymous (Querist) 21 March 2010 This query is : Resolved 
if there is gross profit coming only due to credit notes which the applicant had shown in trading account.can sales tax officer can say to charge vat on credit notes.is he is eligible to say any thingh about profit except that of income tax officer.any case law
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soumitra basu (Expert) 22 March 2010
Credit notes for what. If it for trade discount no Vat on credit notes is applicable.
Kumar Thadhani (Expert) 23 March 2010
You do not require case laws to prove credit notes, they are journal entries in books of accounts.

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