We have purchased goods on FOR Basis. Therefore liabilities of frright is not on us. Now we paid Rs. 25000/-(More than 20000) to transporter on behalf of supplier & debited to supplier by Rs. 25000/-. Now my question is that we are not booked freight in our book as we purchased FOR goods, Can we make payment in cash more than 20000/- ? If we book freight in our books than we can make payment to transporter upto 35000/- but this is FOR Purchased & we paid to transporter on behalf of Supplier. Pls Solve ASAP
CAclubindia
