adjustment of vat in case of rebate & discount
This query is : Resolved
ca vishal aggarwal
(Querist)
18 October 2009
how to adjsut vat paid on goods if we got rebate & discount from the company at end of year .our purchase cost will reduce .do we have to pay more input tax if yes how to pay nd how to show it in return nd in wich return
Ram Avtar Singh
(Expert)
19 October 2009
There is no change in Sales & Purchase due to Sales Tax return Submitted by you.
create Rabate & Discount a/c it will adjust at the time of profit & Loss by Expert Persons.
create Rabate & Discount a/c it will adjust at the time of profit & Loss by Expert Persons.
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