Consignment sales
This query is : Resolved
murali krishna
(Querist)
19 July 2013
SIR,
WE HAVE PURCHASED GOODS FROM OUT OF STATE ON CONSIGNMENT. WE HAVE RECEIVED TOTAL Q.1000 REDGRAMS. THE YEAR 11-12 Q.500 WAS SOLD. THE REMAINING Q.500 IS SHOWN IN IT RETURNS AS A CLOSING STOCK OR NOT. ONE DOUBT SIR THESE TURNOVERS ARE REFLECTED IN IT RETURNS OR NOT. THE TOTAL QUINTALS ARE SOLD WE HAVE SHOWN COMMISSION IN IT RETURNS IS CORRECT OR NOT.
PLEASE GIVE ME REPLY SIR
WE HAVE PURCHASED GOODS FROM OUT OF STATE ON CONSIGNMENT. WE HAVE RECEIVED TOTAL Q.1000 REDGRAMS. THE YEAR 11-12 Q.500 WAS SOLD. THE REMAINING Q.500 IS SHOWN IN IT RETURNS AS A CLOSING STOCK OR NOT. ONE DOUBT SIR THESE TURNOVERS ARE REFLECTED IN IT RETURNS OR NOT. THE TOTAL QUINTALS ARE SOLD WE HAVE SHOWN COMMISSION IN IT RETURNS IS CORRECT OR NOT.
PLEASE GIVE ME REPLY SIR
Anil Sankar V
(Expert)
19 July 2013
so, it is not trading business. as declared to income tax dept.
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