Effect of reduced amount received on mvat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 October 2012
I want to know that suppose I have issued sales bill of Rs. 10000/- and charged 12.5% mvat i.e Rs. 1250. But at the time of payment customer has only paid Rs. 9500/- and he has not returned the original bill also. In such situation can I reduce the original bill by making discount entry and can it possible to reverse the vat on such amt.
04 October 2012
issue credit note for the discount.
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