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Payment received from dealer in bank account, but credited in distributor account?


Ishant Asija (ca)     03 December 2019

Ishant Asija
ca 
 26 points

| My Other Post

payment received from dealer in bank account, but credited in distributor account and billing is also done to distributor. what will be consequences under income tax act, 1961 or gst act?? 

avater

Kapadia Pravin   03 December 2019

Kapadia Pravin

 916 likes  14288 points

View Profile | My Other Post

Reverse wrong entries / cancel wrong invoice /pass correct entries and raise invoice to dealer
.... no end consequences but rectify immediately

1 Like
avater

RAJA P M ("Do the Right Thing...!!!")     03 December 2019

RAJA P M
"Do the Right Thing...!!!" 
 8322 likes  113792 points

View Profile | My Other Post

No more problem...😊😊😊

Just provide Journal entries from Dealer to Distributor account and give correct narration in entries...🤗🤗🤗

1 Like

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