Proof of Purchase

This query is : Resolved

M.G CHARY (Querist)
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30 January 2022 Dear All,

Please suggest one of my client propose to purchase waste human hair from house wifes for small amount say Rs. 50/- 100/- within the state. sales may be in crores in a month.
and sells collected hairs to factory who manufacture wigs and other hair products
in this regard how my client prove purchases are made. how one should mange record of purchases

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 January 2022 Obtain voucher receipt for payment made.

Lekhraj sood

Lekhraj sood (Expert)
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30 January 2022 You should create Challan cum Receipt document. This document should contain description, qty and value of the hair bought ,name of the supplier with (mobile no., date etc.).You should get it signed from the seller and counter signed by you as recipient of material. Based on this you can record the purchases in your books of accounts.

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M.G CHARY

M.G CHARY (Querist)
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16 February 2022 Thank You CA R SEETHARAMAN Sir and Lekhraj sood Sir