Treatment of sales return in er-1
This query is : Resolved
Muneet kakani
(Querist)
10 June 2014
Dear Sir/Mam,
What will be the treatment of duty and quantity in the ER-1 return in case of sales returns of excisable goods?
What will be the treatment of duty and quantity in the ER-1 return in case of sales returns of excisable goods?
12 June 2014
In ER-1, you have to connsider the sales return akin to purchase.
For example, Rs. 120 is sales and sales return is Rs.20.
Purchase is say Rs. 60.
Then you show sales as Rs. 120 and purchase as Rs. 80 (60 +20). You can take credit on entire Rs,80 of puchase & Sales return.
For example, Rs. 120 is sales and sales return is Rs.20.
Purchase is say Rs. 60.
Then you show sales as Rs. 120 and purchase as Rs. 80 (60 +20). You can take credit on entire Rs,80 of puchase & Sales return.
Rupesh Jain
(Expert)
16 June 2014
you can take as purchase of goods.
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