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What happens if I return material purchased in March to the
buyer in August next year? Do I get full refund of the
value including tax?

Question Posted / manikprabhu s uttarwar

Answer Posted / manikprabhu s uttarwar

E.g. in Maharashtra goods returned within 180 days can be claimed as deduction and to that extent you can adjust your output VAT liability. You have to calculate the number of days between sales and goods returned.

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