Hi Member!!
1) How far is it justified under Excise rules/ VAT rules to post an invoice, which is given at a rate higher than the rate agreed in purchase order, par with the rate mentioned in Purchase order without obtaing 'modified invoice' ??
2) Can we use Dr Note for difference value by posting invoice at higher rate.?? or is there any alternative?
with Best Regards
Since there is a claim from the supplier for higher amount there must be some informal agreement to pay the same.
So you have to book PO rate as liability for supplier and the differential value as Provisional Liabilty till it is confirmed by amendment to PO.
After words you have to obtain revised invoice(Tax) and regularise the whole issue.
kkm
| Originally posted by : Kolluru Krishna Murty | ||
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Suppose if vendor has, by mistake, given invoice with such higher rate?? |
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CAclubindia
