Accounting entry for Interstate purchase
This query is : Resolved
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
25 March 2010
debit CST a/c by rs. 80,
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.
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.
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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