VAT/CST – filing returns During Quarter endings
There is a common problem which customers face during VAT/CST returns especially during quarter ends.
The issue faced is:-
Suppose a customer’s supplier party A issues a bill on the 30th of June (invoice issued). The material is received on 9th July.
Now the mismatch arises if the customer shows the purchase in the second quarter (JAS) while the supplier has shown the sales in the AMJ quarter.
Actually, this can be handled easily in tally using receipt notes and purchase bills.
Even in case of interstate transfers, this can be handled as follows:-
Case 1:- When you get to know the purchase invoice date (same as the sales invoice date of supplier). This can be known from the website too as the way bill has to be given before they can release the material.
Entry is made as:-
Now the actual material is received on (say) 22 July 2013. Now the situation that arises is we need to file the returns for AMJ and the stock should show as per the actual date that’s 22nd July.
Now Go to :-
If the receipt note numbers are tracked and maintained then you can create a receipt note and give that no. but the suggestion is to open up a duplicate voucher for this purchase(Alt-2) and press Alt-f9 for receipt note and change the date as the material is received.
For the purchases annexure E is effected :-
Suppose the customer has not checked the website or has forgotten about this purchase and has missed the bill. He realizes this when the material is received on the 22nd of July.
He then first passes a receipt note on 22nd july and then passes a corresponding purchase entry for the same. Entry is made as :-
Since this is a receipt note you may or may not use the CST ledger.
This date modification needs to be done in the second case as the purchase bill is being created for 30th june.
Once this entry is made we get the correct reports for stock and for Statutory.
Stock summary ( only for july):-
Annexure E for CST:-