Glossary

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Related Glossaries

Debit note

Debit notes are commerical documents passed on to suppliers from customer to fromally request for a customer. In effect they reduce the expenses recorded in the customer's books of account.

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Consignor

A consignor is an individual or business that entrusts goods, products, or assets to another party, known as the consignee, for the purpose of sale, transport, or other specific arrangements.

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E way bill

The EWay Bill is a digital document that must be created on the eWay Bill Portal for the movement of goods. If the value of the goods being transported in a single invoice exceeds Rs. 50,000, a GST registered person is required to generate an e-way bill on the website ewaybillgst.gov.in in order to transport the goods in a vehicle.

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LIFO

It is an inventory management technique, where the inventory that is bought the last is shipped first to the customer

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