Sales in first year & Return in Next year
This query is : Open
MAYUR JOSHI
(Querist)
16 December 2009
A company has sold some goods to its sister concern in FY 2008-2009. Now in 2009-2010 the company would like to take back the said sold material.
Whether it could be possible to show it as a fresh purchase in our books? any accounting standards, norms, principles, policies on this issue?
Whether it could be possible to show it as a fresh purchase in our books? any accounting standards, norms, principles, policies on this issue?
CMA Ramesh Krishnan
(Expert)
20 December 2009
I think as per as VAT - We cannot claim sales return beyond 6 months
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