puchase entry in which date(Invoice date or MRN date)

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2011 Dear All,
I have confusion about purchase entry of month ending that which date (Invoice date or MRN Date) we must be followed when entering purchase, if we are following Material Received date is it wrong for Tax Crediting?
For example when we purchase a material at 31/3/11 invoice date might be 31/03/11 but the same material receiving us on 03/04/11 so MRN Date will be 03/04/11., so my question is

1. How which date we must follow when we enter this invoice into accounts?

2. If we are following MRN (Material Receive note) date, is it wrong as per the rules of Income/ Vat/ CST Tax Act.?

3. If we are following MRN (Material Receive note) date, when we issued form C/F etc for quarter or year.

Can any one help me to solve this problem.

Thanking you
ANIL KUMAR JAIN
09873551230

MJ Krishnamurthy

MJ Krishnamurthy (Expert)

23 June 2011 Mr AK Jain,
You can enter the purcahses as and when you keep receiving them i.e.the MRN dates. While entering the purchases in the order of their receipt respective purchase invoice number and date can be quoted in the books of a/c without any problem.The C/F forms are to be issued within three months from the date of invoice/delivery document.
MJK

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