Interstate sale of Goods were made by a company in feb,2010 but the debtor rejected some part of goods and issued a invoice of goods return in April,2011. So can u pls tell me what accounting entries are required to be made in books regarding sales return & CST in FY 10-11 or in FY 11-12 ??
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sales return
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better to book in previous year ( in the year of sale)and keep the goods as " stock in transit", as carry forward of such return goods will generate multiple queries in every respect of taxation.
Is anyone there to have solution of my problem??
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