Accounting entry for Interstate purchase
This query is : Resolved
seema singla
(Querist)
25 March 2010
An assessee purchases materials interstate. He keeps inventory in Tally ERP 9. All the materials are recorded in Tally as per the individual items's cost. I want to know what about CST charged. How it will be entered in Tally if inventroy is maintained.
e.f. A Purchases goods interstate:
M-1 Rs. 2000
M-2 Rs. 2000
CST Rs. 80
M-1 and M-3 will be recorded at Rs. 2000/- each. Then How will the entry of rs. 80 will be passed?
Please Ans.
Thanx
e.f. A Purchases goods interstate:
M-1 Rs. 2000
M-2 Rs. 2000
CST Rs. 80
M-1 and M-3 will be recorded at Rs. 2000/- each. Then How will the entry of rs. 80 will be passed?
Please Ans.
Thanx
CA Ashok Kumar Sahu
(Expert)
25 March 2010
debit CST a/c by rs. 80,
seema singla
(Querist)
26 March 2010
Thanks for the ans. sir,
According to you,CST a/c should be debited with Rs. 80/-. But sir, where will this a/c be shown as we are not going to get any input against it. It is a part of cost of purchases. please ans. again and views of other experts are also expected.
According to you,CST a/c should be debited with Rs. 80/-. But sir, where will this a/c be shown as we are not going to get any input against it. It is a part of cost of purchases. please ans. again and views of other experts are also expected.
seema singla
(Querist)
26 March 2010
Thanks for the ans. sir,
According to you,CST a/c should be debited with Rs. 80/-. But sir, where will this a/c be shown as we are not going to get any input against it. It is a part of cost of purchases. please ans. again and views of other experts are also expected.
According to you,CST a/c should be debited with Rs. 80/-. But sir, where will this a/c be shown as we are not going to get any input against it. It is a part of cost of purchases. please ans. again and views of other experts are also expected.
CA Ashok Kumar Sahu
(Expert)
26 March 2010
that case you charge m1 - 2040
m2 - 2040
no separate a/c of cst required,
otherwise open separate cst a/c in direct expense group
m2 - 2040
no separate a/c of cst required,
otherwise open separate cst a/c in direct expense group
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