Excise/vat
This query is : Resolved
Krishan Sahay
(Querist)
23 December 2012
If any company based in Delhi sells the 640 bags of material to customer based in other Indian state. Suppose that,customer returns the 6 bags saying that it is of another grade and send back. We have taken back the matarial and credit is given to the customer . Is there any financial liability as for as taxes/other formalties is concerned ?
Ram Avtar Singh
(Expert)
23 December 2012
No tax libility on sales return. you can claim CST on sales return material. get debit note from party and claim it.
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