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Where show the sales return of exciseable goods?
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Answer Posted / h.r. sreepada bhagi
You can pass reverse entry for sales. But if you want to
show the sales returns separately, instead of debiting sales
a/c, debit sales returns a/c, when you receive the goods back.
Result of sales returns is Net sales will be reduced, Excise
& VAT/CST liability will be less. For Central Excise &
VAT/CST proper documentation needs to be maintained and
shown in the periodical returns filed with the concerned
department.
| Is This Answer Correct ? | 5 Yes | 1 No |
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