Respected seniors I need your help, if some supplier give trade/scheme discount to traders in the mode of Credit Note and in the Credit Note DVat 12.5% added on total value, how i pass the entry in the book of Traders, in normal cases we pass the entry in the book of Trader - Supplier A/c Dr. - To Scheme Discount A/c but here Dvat 12.5% added how i pass the entry
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tax credit note
Replies (2)
suppliers a/c dr ......................112.50
to discount a/c ..................................... 100.00
to dvat a/c ( input credit) ........................12.50
if the trader who is getting discount credit note is a composition dealer ......thn wat will be the entry
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