Forums
Why is there no mention of Debit note is P2P cycle?
Information Systems
(See attached) If supplies are procured/purchased and found to be defective, wont the buyer raise a debut note and return those supplies to the vendor along with debit note?
Answers (5)
CA Suraj Lakhotia Admin
Supplier would raise credit note. Buyer would raise debit note.
Yes sir ,that is what i am talking about only. Does p2p cycle not include purchase return? Because the book talks nothing about purchase return under this topic
Thread Starter
Kumarjit DeyYes sir ,that is what i am talking about only. Does p2p cycle not include purchase return? Because the book talks nothing about purchase return under this topic
It includes purchase return. When you return purchases, the supplier will issue a credit note.
CA Suraj Lakhotia Admin
It includes purchase return. When you return purchases, the supplier will issue a credit note.
understood, sir. And what about the fact that I will issue a Debit Note to notify the supplier that his account i have debited his account? That (the DN) the supplier will input in his computer system and i need not recognize?
Courses
Course Guides
Offerings
CIN: U74999TG2017PTC116012 | GSTIN: 36AAECI4332C1Z0 | PAN: AAECI4332C