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Can Return be submitted without paying Net Tax or paying the same in part?
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The amount of advance tax paid by any person shall be adjusted decreasingly against turnover tax. The Enlisted Person shall maintain accounts of all purchases and sales concerned with his supply, in Form VAT-6.1 and Form VAT-6.2. He will issue, in Form VAT-6.9, Turnover Tax Invoice, against each supply. He will calculate Turnover Tax on the basis of Tax Invoice, that is, on the basis of net taxable sale, issued against supply during each Tax Period.
Form VAT-6.3 and Form VAT-6.6, combined together are considered to be ‘’Adjusted Tax Invoice and Withholding Tax at Source Certificate’’. In such case there is no need of maintaining hard copy along with the digital method simultaneously. But if you so desire, you may also maintain copy manually along with the digital method simultaneously.
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