When calculating value added tax, filling out a sales or purchase ledger, issuing an invoice or drawing up a tax return, an accountant may make VAT errors. To correct the identified error, it is not enough for an enterprise to submit an updated tax return; it is necessary to perform a number of additional measures that are stipulated by law.
It is necessary
- - invoice;
- - sales book;
- - Book of purchases;
- - tax return form.
Instructions
Step 1
Check out the range of statutes describing different situations for correcting VAT errors. So clause 1 of Art. 54 of the Tax Code of the Russian Federation established the procedure for recalculating the tax base and the amount of tax when an error is made. In Art. 81 of the Tax Code of the Russian Federation notes that it is necessary to submit an updated tax return. Also, according to the Decree of the Government of the Russian Federation No. 914 dated 01.12.2000, which approves the Rules for maintaining accounting in the calculation of VAT (hereinafter referred to as the Rules), it is necessary to make appropriate adjustments to the invoice and sales and purchase books, where the erroneous value of VAT appears.
Step 2
Correct the invoice. On the basis of clause 29 of the Rules, it is necessary to cross out the incorrect value of VAT, then enter the correct indicator, indicate the date of the amendments, certify with the signature of the head and the seal of the enterprise. Only the organization that issued it, that is, the supplier, has the right to make corrections to the invoice. In this regard, the buyer must contact the supplier with a request to correct the VAT error. Unfortunately, the company is not legally responsible for a defective invoice issued and may refuse to correct it, so buyers often have to resolve the situation in court.
Step 3
Correct the identified errors in the purchase ledger and sales ledger. According to the Rules, the correction of entries in the purchase book and the sales book is carried out by drawing up additional sheets. They are filled in by analogy with the rest of the sheets of the book, while the period corresponding to the VAT error and the date of the additional sheet are indicated. Summarize the final line after reflecting the correction and certify the sheet with the signature of the chief accountant. It is prohibited to enter more data into the additional sheet.
Step 4
Submit an updated tax return. According to clause 5 of article 81 of the Tax Code of the Russian Federation, the company prepares an updated declaration in the form that was valid in the tax period for which a VAT error was detected. Re-fill all lines and indicators, remembering to correct the erroneous value.
