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Debit note

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 November 2014 1):-on 1/4/2014 mr.hars purchased 20 computer @ 25000 each.excluding tax from k.g.enterprise on 30 days credit (purchase@4%)...total=500000+20000(vat)...
2):- on 10/4/2014 rejection of 5 computer and create debit note towards k.g.enterprise..
dr-k.g.enterprise 1300000
cr-purchase@4%(computer) 125000
cr-input vat@4%... 5000
3):-1/5/2014:-
what are the amount on which mr.hars is liable to pay interest on outstanding???????
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Amol S Joglekar

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Amol S Joglekar (Expert)
18 November 2014 The rejection terms WILL play a very important role in this.
Normally interest is payable on 520,000-130,000= 390,000
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