Credit note and debit note

atul shkeharbhai nagarkar (Querist) 27 January 2014 This query is : Resolved
Hello
sir i want to know about credit not and debit not what is effect on vat?

i also want to know about high seas sales and export through h form?what is the effect on vat?

i want to know cst rate ?

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Guest (Expert) 27 January 2014
Better, if you post your query in CAclubindia.com

R.K Nanda (Expert) 27 January 2014
consult tax lawyer.

Devajyoti Barman (Expert) 27 January 2014
or consult a CA.

Rajendra K Goyal (Expert) 27 January 2014
Consult your tax consultant.

R.V.RAO (Expert) 28 January 2014
If sale price is increased/reduced subsequent to sale, the transaction will be recorded through proper debit/credit note. The buyer will adjust the input credit available to him accordingly. (refer :ICAI.ORG). It means input credit will be adjusted for tax diff.of Dr./Cr/ note.
HIGHSEAS SALES DO NOT ATTRACT LOCAL SALES TAX or vat
H form is given by a dealer who is acting as agent to export. keep all export docs like B/L.INV etc.no vat effect .
cst rate 2% if c form is given

R.V.RAO (Expert) 28 January 2014
this query on dr.note cr. note etc...was answered on 27 /1/'14.pl. refer answer above.

V R SHROFF (Expert) 28 January 2014
Consult tax consultant.

malipeddi jaggarao (Expert) 28 January 2014
First is accounting query.
Second is commercial query.
Better consult a CA in your area. These can not be taught by way of replies to your queries.

T. Kalaiselvan, Advocate (Expert) 28 January 2014
I endorse the views of Mr. Rao

R.V.RAO (Expert) 29 January 2014
thank you Mr.Kalaiselvan.

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