A manufacturing co. Makes paint. It purchase s raw materials. Sometimes it return goods by making sale invoice. Can co. Do this even does not deal in raw material. If yes we will aasume it sales or purchase return how can we pass entry in tally.
My sir says it will treat as sales , i agree but he says after making sale entry we have to pass journal voucher to reduce purchase basic value not tax. Can i do so. Can we pass such JV
01 March 2019
Hi, CGST Act Sec. 34 says to issue Credit/Debit Note in case of any deficiency /Purchase returns if any. but specifically it says that No reduction in the Output Tax liability.
so if you raise an debit note/Credit note it will be clear understanding of against which invoice you have made.
so in my view its not correct to pass the journal voucher for only the basic value.
01 March 2019
My question is how can a purchaser return the goods. Whic is the documents and what is the journal entry in tally My sir says we can return the goods by making sale invouce only and he wants to pass JV for reduction in purchase amt. Basic value
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