Sir,
Pl. guide me when ever sales return from customer taken place 1. With in 6 Months we can claim for VAT amount 2. If sale transaction is more than 6months - Pl. advice the procedure of accounting and as well as returns procedure. My basic doubt is: when we are invoicing On 10.10.2012 Value -100 VAT-5 Inv value 105 At the time of sales returns in June'14 Can we show entries in books as below: Sales value : 100 VAT 0 Net crn to customer 100 For compansating remaining Rs.5/- is there any provision, so that we can issue credit note to dealer. Pl. advice Regards Prasad
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