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CREDIT NOTE

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 September 2010 WE EARLIER INVOICE OUR CUSTOMER FOR AMOUNT 15000/- + 1000/- VAT TOTAL INV AMOUNT 16000/- NOW WE WANT TO GIVE CREDIT NOTE DUE TO RATE DIFFRENCE REASON FOR AMOUNT 5000/- WHAT IS THE TREATMENT OF TAX HOW TO PREPARE CREDIT NOTE WITH TAX EFFECT ????
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
18 September 2010 On Gross credit Rs.5000, do back calculations (5000/100+VAT rate)x 100 will be the taxable value and balance is VAT value, make credit note incorporate with VAT return
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