Debit & Credit Note
This query is : Resolved
Sanoj Kr. Sharma
(Querist)
10 June 2009
Let Goods Costing is Rs.190/- . But Supplier Charge Rs. 197/- which is Rs.7/- excess then the original price and his bill Shown after all taxes (Excise duty 8.24% and CST 2%) Rs.218/-.
On above the Supplier charge 7/- excess in thier bill. And we book the Bill amount in our Books.
In that scenario how we deal with the excess amount, if we issue Debite Note for that than it will be for only 7/- or With taxes related with this.
sanojsharma84@gmail.com
On above the Supplier charge 7/- excess in thier bill. And we book the Bill amount in our Books.
In that scenario how we deal with the excess amount, if we issue Debite Note for that than it will be for only 7/- or With taxes related with this.
sanojsharma84@gmail.com
10 June 2009
in who's books, if you mean books of supplier(who is billing): He will book the bill under sales like this:
Debit : Party or cash or bank a/c by Rs. 218
Credit : Sales Account by Rs. 197
Credit : Excise Rs. 16
Credit : Cess Rs. 1
Credit CST Rs. 4
Debit : Party or cash or bank a/c by Rs. 218
Credit : Sales Account by Rs. 197
Credit : Excise Rs. 16
Credit : Cess Rs. 1
Credit CST Rs. 4
Sanoj Kr. Sharma
(Querist)
11 June 2009
Sanoj Kr. Sharma
(Querist)
11 June 2009
Mr. Dashrath I think I am not very clear to you, so I modify my Querry.
11 June 2009
Dear Mr. Sanoj,
You must debit with Rs.7/ + excise on Rs. 7/ + CST on 7/ and accounting must be exact reverse as you enter while booking bill.
if any query prashantdbonde@gmail.com
You must debit with Rs.7/ + excise on Rs. 7/ + CST on 7/ and accounting must be exact reverse as you enter while booking bill.
if any query prashantdbonde@gmail.com
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