Dear All,
I am having Query regarding Freight:
Vendor is sending material (A) on which VAT is applicable
Let us say he sends Qty 1000 @ 10
So BAsic Price is 10000
Vat @ 4% 400
1) So Price inclusive VAT is 10400 Rs
The Freight is Applicable on the MAterial But the thing is that Vendor sends the Bill of 10400 less freight 500 Rs
i.e Net amount payable to Vendor is 9900 Rs
And when the MAterial Comes to Clients Premises then he pays the actual Freight Charges to Transporter Let us say Actual Freight is 550 Rs i.e my client is bearing 50 Rs Loss.
Awaiting for your rreplies
regards
shailesh