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Credit note

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 February 2013 I want to know if i purchase with tax invoice and after then company which whom i have purchased credit note to us for price equalization or trade discount including vat on each tax invoice.

so it means when i purchase i take input tax credit of purchases but after credit note,
do i need to reduce that input vat whenever that credit note was ??
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CA Dileep Surya Kumar

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CA Dileep Surya Kumar (Expert)
26 February 2013 1.Purchase returns - you need to reduce

2.Cash Discount - you need not reduce( Except for Maharashtra VAT)

VAT is state specific ,pls mention which state you belong.
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Querist : Anonymous

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Querist : Anonymous (Querist)
26 February 2013 from gujarat
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