PURCHASES RETURN BOOK OR RETURNS
Purchases Return Book or Returns Outward Book is a
subsidiary book maintained to record the goods or materials returned to the
sellers of goods that were purchased on credit. Neither the return of goods purchased
on cash nor the returns of any asset other than merchandise are recorded in
this book. This book is maintained if the return of goods is frequent otherwise
it can be recorded in the Journal. Goods may be returned because of any of the
1. Goods are not as per sample.
2. Goods are defective.
3. Goods are not as per order.
4. Goods have been delivered late
and the customer has refused to accept them.
In all these cases, the purchaser prepares a 'Debit Note' and sends it to the supplier. Debit Note is a document
notifying the person that a debit has been made to his account. The reason for
the debit is also stated in the Debit Note. A Debit Note is prepared when the
goods are returned and on its basis an entry is recorded in the Purchases
Return Book. GST (IGST or CGST and SGST) was paid at the time of purchase of
goods. Thus, in the Purchases Return Book or Returns Outward Book, Input IGST
or Input CGST and Input SGST are also reversed.
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