Journal Entry of credit note

in sales invoice
Taxable amount 12000
CGST. 1080
SGST. 1080
Bill amount. 14160
Less CN 500
net amount. 13660


how to show this transaction in tally prime
Replies (7)
Quick Summary
Record sales invoice normally, then pass a credit note entry in Tally. If Rs 500 is a scheme discount without GST impact, debit Sales Return or Discount and credit Debtors. Mention original invoice details in credit note for proper tracking.

 Either it's a discount ......so you should booked it as a discount .Now your entry should be like this

Taxable Amt.    - 12000

Cgst                -   1080

Sgst                -   1080

Discount        -     -500

total               

Pass first entry - press F8 ( Sales) in Tally prime

Trade Debtors A/c Dr 14160
To Sales A/c Cr 12000
To Out put CGST A/c Cr. 1080
To Out put SGST A/c Cr. 1080
( sales booking entry)

Credit Note press ( Alt- F6 ) Also you have to mention original Invoice no and date .

Sales Return A/c Dr
Out put CGST A/c Dr
Output SGSt A/c Dr
To Trade Debtors A/c
( sales return entry)

please inform credit note of 500/- is inclusive or exclusive CGST and. SGST .
Cn 500 is scheme amount provided for sales

Ok , If  no  GST  involvement  then  press  Alt F6  in Tally  prime  and  pass entry for Credit  Note 

Sales Return  A/c  Dr 

To  Trade Debtors  A/c  Cr 

(  Sales  return entry ) 

You have mention  Original  Invoice number   and  Date  in Credit  Note  

Mention  in narration that  credit  note of Rs 500/-  is  for  scheme  amount  provided  for  Sale  

Just pass a credit note entry and how hard can it be?

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