Need help regarding purchase return under gst
This query is : Resolved
01 March 2019
Dear Sir / Mam
A manufacturing co. Makes paint. It purchase s raw materials. Sometimes it return goods by making sale invoice. Can co. Do this even does not deal in raw material.
If yes we will aasume it sales or purchase return how can we pass entry in tally.
My sir says it will treat as sales , i agree but he says after making sale entry we have to pass journal voucher to reduce purchase basic value not tax. Can i do so. Can we pass such JV
A manufacturing co. Makes paint. It purchase s raw materials. Sometimes it return goods by making sale invoice. Can co. Do this even does not deal in raw material.
If yes we will aasume it sales or purchase return how can we pass entry in tally.
My sir says it will treat as sales , i agree but he says after making sale entry we have to pass journal voucher to reduce purchase basic value not tax. Can i do so. Can we pass such JV
01 March 2019
Hi,
CGST Act Sec. 34 says to issue Credit/Debit Note in case of any deficiency /Purchase returns if any.
but specifically it says that No reduction in the Output Tax liability.
so if you raise an debit note/Credit note it will be clear understanding of against which invoice you have made.
so in my view its not correct to pass the journal voucher for only the basic value.
CGST Act Sec. 34 says to issue Credit/Debit Note in case of any deficiency /Purchase returns if any.
but specifically it says that No reduction in the Output Tax liability.
so if you raise an debit note/Credit note it will be clear understanding of against which invoice you have made.
so in my view its not correct to pass the journal voucher for only the basic value.
01 March 2019
My question is credit note and debit note are made by supplier. How A purchaser return the goods. Which documents issued.
01 March 2019
My question is how can a purchaser return the goods. Whic is the documents and what is the journal entry in tally
My sir says we can return the goods by making sale invouce only and he wants to pass JV for reduction in purchase amt. Basic value
My sir says we can return the goods by making sale invouce only and he wants to pass JV for reduction in purchase amt. Basic value
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
