In the case of Lump Sum Incentive received from the Supplier on purchase, what is the right accounting method for its revenue recognition?

1. On receipt of the amount, can the full amount be recognized as income at point of receipt? or
2. The incentive to be reduced from the cost of stock or
3. The incentive received to be deferred in the form of provision and recognize as income in proportion to future sale of the stock items or else.

Assume:
(a) the money used for the purchase is financed which used to repay by using sale proceeds and
(b) incentive calculation formula/structure can be known only at a later time when the money is received.

DRY FRUITS PURCHASED THROUGH BILL

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WHO WILL ISSUE THE WAYBILL?

If someone has worked 4 months of last FY in UK, and earned some salary there (tax is deducted on this salary), how does he get credit of the same while filing ITR in India ?

He is still an RI. So the income gets added to his Indian Income. But how does the tax credit work ?

DEAR SIRS : IT IS A ADOPTED PRACTICE IN SAREE / SUIT RETAILERS THAT PURCHASES ARE MADE UNDER 30/45 DAYS RETURN BASIS.... AFTER 45 DAYS UNSOLD GOODS ARE RETURNED.... MY QUERY IS (1) SHOULD THE ORIGINAL PURCHASER ISSUE DEBIT NOTE / DISPATCH DOCUMENT AT TIME OF RETURNING GOODS (2) WHAT IS THE TIME LIMIT FOR RETURNING GOODS ? KIND REGARDS

A partnership firm has a huge loss.Now partners quarrel.The audted accounts is to filed.The auditor files the report without an audit report.2019/20 AY
Incometax is asking the firm to file before 31 dec

The implication of non-filing

they were in real estate and the business is down
Can the managing partner who has a digital signature file the return

Sir we are in the business of recovery agency and providing service to bank. our service are under 100% reverse charge. But by mistake while uploading invoice for the F/y 2019-20 some invoices were not ticked with reverse charge. Can we issue revised invoice for that or we can issue credit note and issue a new invoice for it. What will be the correct process.

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hello all,
We are using tally ERP9. and also main inventory in this.
we are face problem that is "purchase bill to come" show in Profit & loss A/c
we want to remove this.
kindly help us.

dear sir, i have availed some wrong input in 2018-2019 feb. and reverse the same in 2019-2020 feb. through gstr-3b.is their any time limit for reversal of input?i have already full balance in my credit ledger and payable is nil till reverse of input .is still int. payable?
with thanks