banner_ad

Accounting entries as per Accounting Standards

This query is : Resolved 
Profile Image

Profile Image

(Querist)
07 January 2009 1) Raw material order cost @ 100 /- per kg plus cenvat 4 % & AP Vat 4 %.

2) Ordered qnty = 1000 kgs

3) Material received is 950 kgs but the invoice is for 1000 kgs .( 50 kgs damaged condition and rejected )

4) Payment made is for 950 kgs only .


Can you plz suggest the Accounting entries as per Accounting standards ...
Profile Image

Arbind Aggarwal

Profile Image

Arbind Aggarwal (Expert)
07 January 2009 Make entry for 950 kg. of material cost+excise duty and VAT.

The credit of excise and VAT is available only for the quantity recd.
Profile Image

Rashesh Patel

Profile Image

Rashesh Patel (Expert)
07 January 2009 Make Entry for 1000 Kgs. + Excise & VAT ...and also make entry for Purchase Return of 50 Kgs + excise + vat
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details