Credit note

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

26 February 2013 I want to know if i purchase with tax invoice and after then company which whom i have purchased credit note to us for price equalization or trade discount including vat on each tax invoice.

so it means when i purchase i take input tax credit of purchases but after credit note,
do i need to reduce that input vat whenever that credit note was ??

CA Dileep Surya Kumar

CA Dileep Surya Kumar (Expert)
Follow

26 February 2013 1.Purchase returns - you need to reduce

2.Cash Discount - you need not reduce( Except for Maharashtra VAT)

VAT is state specific ,pls mention which state you belong.

Querist : Anonymous

Querist : Anonymous (Querist)

26 February 2013 from gujarat

Upgrade to CAclubindia Pro. Subscribe Now!