Over costing of machnary

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This discussion addresses how to handle a situation where a supplier has invoiced a higher amount for machinery than initially agreed upon. The consensus is to treat the excess amount as a discount. The user expresses gratitude for the timely and accurate advice received on accounting and tax matters.

Deodatt S.Kulkarni

Deodatt S.Kulkarni (Querist)
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22 September 2021 Sir, what treatment should give to over pricing bill given by supplier

e.g. We have purchase Truck for Construction business of Rs.340000/ + GST But Supplier Given Invoice
of Rs. 360000+GST...What should treatment give for Over 200000 ...is this Discount...or what ???

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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22 September 2021 Yes, treat it as discount.

Deodatt S.Kulkarni

Deodatt S.Kulkarni (Querist)
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22 September 2021 Ok...Thanks Sir .... Also Satisfied for time to time help to me by CACLUB India agst. account, tax, etc queries.

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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22 September 2021 Thank you for your appreciation..
Its extremely satisfying that any query here, gets resolved in fraction of time with up-to date information. Whoever replies is not big deal, but querist gets satisfaction without any doubt.
Experts here are well educated as well as well disciplined. Its usual trend to reply any open query, or add any value to already replied one.
So, I may not be able to reply your query all the time; but assure you will get perfect answer.
Wishing you all the good luck…

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