Debit & credit note
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 April 2018
Dear Sir,
If we have raised Debit Note agnst Purchase rejection to customer . Afr receiving rejected material our customer raised credit for for the same & send copy to us.
Is it necessary to take entry of credit note received agnst our purchase rejection, in our books of A/cs.
Kindly advice.
Tnks.
If we have raised Debit Note agnst Purchase rejection to customer . Afr receiving rejected material our customer raised credit for for the same & send copy to us.
Is it necessary to take entry of credit note received agnst our purchase rejection, in our books of A/cs.
Kindly advice.
Tnks.
03 April 2018
Since, you raised a debit note, it seems that you are purchase( customer) and another party is a supplier or seller. If you have already accounted for debit note in your books of accounts there is no need to make entry for credit note. Attach the credit note with the debit entry and if possible mention the the credit note number in the narration of debit entry
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Management System (IMS)
- Condonation . E-Verification of last year return .
- Eway bill generation from place other than registeted
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- GST rate and HSN code for sale of racing horses
- TDS Return Q1 FY 2026-27
- DIN reactivation
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
