Purchase & sales
This query is : Resolved
28 December 2013
Sir,
I want to know if a dealer makes sales to us as on 28-03-2013 and we are receiving the goods as on 05-04-13 .
so how to take this entry in our books of accounts .
and also what will be the treatment of taxes like vat etc .
I want to know if a dealer makes sales to us as on 28-03-2013 and we are receiving the goods as on 05-04-13 .
so how to take this entry in our books of accounts .
and also what will be the treatment of taxes like vat etc .
Aditya Maheshwari
(Expert)
28 December 2013
purchases can be booked and to be shown in stock as goods in transit and VAT input can be taken.
28 December 2013
Sir,
then we will book the entry on the invoice date not on the receiving date of material?
then we will book the entry on the invoice date not on the receiving date of material?
Aditya Maheshwari
(Expert)
28 December 2013
This is done so that there is no mismatch in accounts of both the companies and also no mismatch of VAT credit.
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