ranjitkarmakar (service) (303 Points)
17 July 2011Respected 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
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 18 July 2011
suppliers a/c dr ......................112.50
to discount a/c ..................................... 100.00
to dvat a/c ( input credit) ........................12.50
sumit chawla
(student)
(60 Points)
Replied 19 July 2011
if the trader who is getting discount credit note is a composition dealer ......thn wat will be the entry
CAclubindia
