Debit note, authentication by supplier

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 January 2016 Hi

We are a retail trade company. As a general procedure, while returning any goods to the supplier, we issue a debit note. However, since the supplier is at a small scale level and does not have any knowledge of credit note to be issued (post we issue a debit note), will it be right if the supplier authenticates the debit note by signing a copy of debit note issued by us?

Any help in this regard will be highly appreciated.

Thanks

CA Shyam Agarwal

CA Shyam Agarwal (Expert)
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18 January 2016
Recently I am facing same problem. We are taking only written declaration from our customer that they are returning the qty of product X value of Rs. 00000/- for our supporting voucher.

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Querist : Anonymous

Querist : Anonymous (Querist)

19 January 2016 Ok, but is this practice legally valid?

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Querist : Anonymous

Querist : Anonymous (Querist)

19 January 2016 Ok, but is this practice legally valid?

CA Shyam Agarwal

CA Shyam Agarwal (Expert)
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20 January 2016 ofcourse. Department needs any documentary evidence to sustain that transactions are actual or not. written declaration with stamp and sign of customer is legal document that transactions are actual not fake.