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Expiry goods

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128 Points Posted on 14 October 2021
In medical farm has purchase expiry and sales expiry so how to show them in books... ?????
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On 14 October 2021 at 19:23 Report
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GST Practitioner & Accounts
15085 Points Posted on 15 October 2021
Is it medicine ?.
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On 15 October 2021 at 10:41
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128 Points Posted on 15 October 2021
Yes it is medicine
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On 15 October 2021 at 12:52
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GST Practitioner & Accounts
15085 Points Posted on 15 October 2021

Refer  circular  No  72 /46 / 2018 -GST  Dated 26-10-2018  on  CBIC  web site . 

Circular  certifying  in respect  of  Time expired  drugs or medicine .   

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On 15 October 2021 at 14:36
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128 Points Posted on 15 October 2021
Sir whether expiry purchase return consider as purchase return or direct income and sales expiry return consider as direct expense or sales return in books..????
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On 15 October 2021 at 16:28
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GST Practitioner & Accounts
15085 Points Posted on 15 October 2021
If you are regular tax payer , As per the above circular 2 Methods have been given
1 ) Issue of fresh Invoice of expired medicine .or
2) Credit Note will be issued by the Supplier , accordingly you have show entries in books of accounts .
please refer Circular in detail .
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On 15 October 2021 at 17:31


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