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04 February 2009 we made purchases worth 1 lac out of which 50 thousand worth material or full was returned to the supplier. can we account this like a normal sale(only basic value i.e. without considering duties and taxes) and what about the portion of duties and taxes
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
04 February 2009 No, it is not correct. Purchase returns can not be accounted for and billed as sales.
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