Saurav Singhania (Article) (54 Points)
09 February 2013A dealer (ABC Ltd.) had sold a product to another dealer (XYZ Ltd.) costing Rs 1002 (incl. cst @ 2%). After 11months, buyer (XYZ Ltd.) has returned the product. So, what should be the entry in relation to sales return in the books of seller (ABC Ltd.).
CA Ashish Gupta
(Internal Audit GST Balance Sheet Income Tax )
(55 Points)
Replied 12 February 2013
sales return A/c 1000
CST refundable A/C 2
To Bank A/C 1002
Saurav Singhania
(Article)
(54 Points)
Replied 12 February 2013
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
CAclubindia
