Expiry goods
Rupesh Thote (120 Points)
14 October 2021
In medical farm has purchase expiry and sales expiry so how to show them in books... ?????
5 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 15 October 2021
Is it medicine ?.
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 15 October 2021
Refer circular No 72 /46 / 2018 -GST Dated 26-10-2018 on CBIC web site .
Circular certifying in respect of Time expired drugs or medicine .
Rupesh Thote
(120 Points)
Replied 15 October 2021
Sir whether expiry purchase return consider as purchase return or direct income and sales expiry return consider as direct expense or sales return in books..????
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 15 October 2021
If you are regular tax payer , As per the above circular 2 Methods have been given
1 ) Issue of fresh Invoice of expired medicine .or
2) Credit Note will be issued by the Supplier , accordingly you have show entries in books of accounts .
please refer Circular in detail .
1 ) Issue of fresh Invoice of expired medicine .or
2) Credit Note will be issued by the Supplier , accordingly you have show entries in books of accounts .
please refer Circular in detail .
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