accounting
This query is : Resolved
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
04 February 2009
No, it is not correct. Purchase returns can not be accounted for and billed as sales.
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