C form liabililty by buyer
This query is : Resolved
17 July 2011
sir,
When a buyer receive the ordered goods during the begining of subsequent F.Y. aginst bills raised during closing month of Previous Financial year
1. the C form should be provided to supplier's bill in current year account or previous year account.
2. If we issue the forms admitting the receipt as First quarter account, whether the assessing authority of the seller accept the same or not ?
3. If the buyer adopts the purchase in current year and can they issue forms treating it as fourth quarter transaction of PY?
please clarify
When a buyer receive the ordered goods during the begining of subsequent F.Y. aginst bills raised during closing month of Previous Financial year
1. the C form should be provided to supplier's bill in current year account or previous year account.
2. If we issue the forms admitting the receipt as First quarter account, whether the assessing authority of the seller accept the same or not ?
3. If the buyer adopts the purchase in current year and can they issue forms treating it as fourth quarter transaction of PY?
please clarify
17 July 2011
usually the buyer has to record the bills in the quarter of sales made by seller, and record the stock in transit.
on actual receipt the transfer the goods from stock in transit to factory.
it will help a lot for tax formalities.
on actual receipt the transfer the goods from stock in transit to factory.
it will help a lot for tax formalities.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Refund of AY 22-23
- Should I include march foreign salary received in April in my income for FY 2023-24?
- HSN Details in IFF/GSTR-1 & in GSTR 9
- TDR receipts for agreement holder
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Applicability of Ind As to associate of associate
- Disallowance of Section 43B(h) to sez units
- Sale of property furniture sale
- GSTR9C Turnover
- Vivad se vishwas scheme 2024 new
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
