imortant

hiii

one of a pvt ltd company has made a central sale against c form on 31.12.2009....

customer has issued a debit note against such bill on 30.6.2010...

plz tell me what to do......

abt  CST, CLOSING STOCK , WHEN TO HBOOK SUCH DEBIT NOTE ...

Replies (4)

Dear Shushant,

I am sure but I think for CST u will have to revise ur return.

In Books - If accounts ( P/L n  Balance Sheet ) for the year 2009-10 have already been closed brfore 30.6.2010 then it will be adjusted in FY 2010-11 as a normal item if amount is not material.

If Accounts are still pending then it will be treated according to AS-4, Events occuring after Balance sheet date ....but even then it is most likely that it will be a non adjusting event & will be accounted for in FY 2010-11 only.

Originally posted by : shushantsinghal
 
If debit note is for sale return that to within 6 months you can reverse the entry and show as receivable  and revise the return
 

Dear Shushant

No need to revise the return because sale has been dont in 3rd quater and sale return in done in 1st quater of next year means to say that both transaction has been done in diff quarter.

Revised Return can be done only if same has been done in same quarter and forget to record.

Tax can be claimed only if sale return has been done within 6 mnths

so record return in April - June Quarter only and not revise the return deduct Tax from current CST.

 

Regards

Hi

as per my knowledge and any sales returns made or for debit note with in 6 months Vat on the same is to be reversed, consequently the VAT 100 is to be revised and if the sales returns or debit note is raised after the 6 months nothing to be done like revision of VAT 100 or adjustment to the stock.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details