Debit & Credit Note

This query is : Resolved

Sanoj Kr. Sharma (Querist)
Follow

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

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
Follow

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

Sanoj Kr. Sharma

Sanoj Kr. Sharma (Querist)
Follow

11 June 2009

Sanoj Kr. Sharma

Sanoj Kr. Sharma (Querist)
Follow

11 June 2009 Mr. Dashrath I think I am not very clear to you, so I modify my Querry.

Prashant

Prashant (Expert)
Follow

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 need to be the querist or approved CAclub expert to take part in this query .
Click here to login now