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author's profile photo Former Member
Former Member

FREIGHT DISCOUNT QUERY

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

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3 Answers

  • author's profile photo Former Member
    Former Member
    Posted on Dec 22, 2008 at 08:41 AM

    Hi,

    In your case, you have raise the credit / debit notes.

    Regards,

    VB

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  • Posted on Dec 22, 2008 at 09:04 AM

    Hi ,

    You can rise credit / debit note or in invoice (MIRO) you can put into unplanned delivery cost . In details tab of MIRO u can find this

    RB

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  • Posted on Dec 22, 2008 at 10:27 AM

    Hi

    In ur case is ur price inclusive of freight in which case it will go the material vendor if is included in the basic price.

    Also is VAT applicable on freight amount. If so then calculation will vary

    Basic price 1000*9.5=9500 rs

    Freight 500 Rs ( Maintain separately as a condition and enter the freight vendor in PO)

    Total 10000 Rs

    Tax 400 Rs

    Total with tax 10400 Rs

    Net payable to material vendor 9880 Rs

    Net payable to freight vendor 520 Rs

    Total with tax 10400 Rs

    If VAT not applicable on freight amount

    Basic price 1000*9.5=9500 rs

    Freight 500 Rs ( Maintain separately as a condition and enter the freight vendor in PO)

    Total 10000 Rs

    Tax 380 Rs (For 9500 Rs)

    Total with tax 10380 Rs

    Net payable to material vendor 9880 Rs

    Net payable to freight vendor 500 Rs

    Now when u pay extra 50 Rs to the freight vendor enter the same in unplanned delivery cost while passing the freight vendor bill in MIRO and this will add to the inventory also.

    Reg

    Raja

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