tnvat industrial input certificate clarification

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..... Dear Sir, We are manufacturers of automobile parts and sell to our customers at concessional rate of 5 percent ( that is against industrial input certificate). At the end of the year, we will collect the tnvat industrial input certificate as per vat act (under rule 6(3)(b) from the customers and submit the same to the sales tax authorities for the assessement.. One of our customers issue the i .....

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..... ndustrial input certificate which will not be as per the sales value. They will deduct Retro debit (i.e. cost reduction etc) amount and issue the certificate. Say for example the sale value is Rs.100/-. The certificate has to be received is for Rs.100/-..Suppose the retro debit amount is 10/- then the customer will issue the certificate for Rs.90/- only after deducting the retro amount. Duri .....

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..... ng the assessment the industrial input certificate has to be tallied with the assessable value as per the returns as per the sales tax department. The Certificate will not match with the assessable value of the returns if there is deduction. The sales tax department will ask us to pay the differential tax for non submission of iic for the debit amount of Rs.10/- How to solve this issue. Wheth .....

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..... er we have to file a revised return . could any body give us suggestion Regards. S.Ramakrishnan. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Whether you have got clarified in the above issue? If not please inform. - Reply By Ganeshan Kalyani - The Reply = I guess return filing will not be affected. It is better to explain the authority at the time of assessment. - tnvat industrial inpu .....

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..... t certificate clarification - Query Started By: - Ramakrishnan Seshadri Dated:- 27-5-2014 Value Added Tax - VAT-CST - Got 2 Replies - VAT and Sales Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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