Accounting entry
This query is : Resolved
02 May 2013
One of my client being a Pvt Ltd.Co.has engaged in manufacturing activities & also covered under excise/service tax.The company purchases an input from a supplier against C form.The relevant Bill of supplier related to 30.03.2013 & goods received in April,2013 within Factory premises.The details of purchase value is as under:-
Basic value Rs.195836/-
Basic Excise Duty Rs. 22664/-
Education Cess Rs. 453/-
Higher Edcu.Cess Rs. 226/-
Total Rs.219179/-
Now query is how to account for in Books of Account both in F.Y.2012-13 & F.Y.2013-14 respectively after keeping in mind the excise rules i.e. whether we have to account for as purchases or Goods in Transit.
Please reply urgently.
Thanks in advance.
Basic value Rs.195836/-
Basic Excise Duty Rs. 22664/-
Education Cess Rs. 453/-
Higher Edcu.Cess Rs. 226/-
Total Rs.219179/-
Now query is how to account for in Books of Account both in F.Y.2012-13 & F.Y.2013-14 respectively after keeping in mind the excise rules i.e. whether we have to account for as purchases or Goods in Transit.
Please reply urgently.
Thanks in advance.
02 May 2013
In FY 12-13...Goods in transit & CENVAT (deffered A/c) to be accounted.
In FY 13-14 amount to be transferred to Purchases A/c & CENVAT AVailed A/c respectively
In FY 13-14 amount to be transferred to Purchases A/c & CENVAT AVailed A/c respectively
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- TDS related Query_Liquidated Damages
- Long Term Service award taxability in hands of company
- Last year TDS Claim
- NON- SUBMISSION OF LLP FORM 3
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
