There is a Purchase Order as per date:01-02-2013 includes material rate:2 per unit quantity: 100 tax rate:12 %
invoice also raised on 05-02-2013.
After 28-02-2013 new budget released and tax rates are changed from 12% to 14%. and we want to return the stocks to the vendor on 10-03-2013 means after budget.
my doubt is which rate of tax % we need to consider to return the stock, tax rate as pet PO or new tax rate as per budget?
01 April 2013
Mr. Varun Mahajan , Thanks for your reply
if we return the same stock with reference to invoice,will vendor accept the new rates of tax . Because, Purchse Order price is =240/- as per old rate.
CAclubindia
