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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 September 2010
what is debit note and credit note
30 September 2010
Debit Note:When goods are received from the supplier, the supplier account is credited.When goods are returned the supplier account is debited, so in case of purchase returns a debit note is prepared. It should contain all the details of purchase returns.Generally a debit note will be made in duplicate, one will be sent to the customer and other will be kept as office copy.
Credit Note: It is a statement sent by the seller to his customer intimating that, his account has been credited with the amount of goods return by him or any other allowances granted to him.
Credit Note: It is a statement sent by the seller to his customer intimating that, his account has been credited with the amount of goods return by him or any other allowances granted to him.
01 October 2010
Sir,
In case of Debit & Credit Notes
IS IT REQUIRED TO ALSO REVERSE VAT, SERVICE TAX, EXCISE DUTY & OTHER INDIRECT TAXES OR IS IT OPTIONAL?
Regards.
In case of Debit & Credit Notes
IS IT REQUIRED TO ALSO REVERSE VAT, SERVICE TAX, EXCISE DUTY & OTHER INDIRECT TAXES OR IS IT OPTIONAL?
Regards.
01 October 2010
REQUIRED TO ALSO REVERSE VAT, SERVICE TAX, EXCISE DUTY & OTHER INDIRECT TAXES.
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