Accounting of excise duty ?
This query is : Resolved
04 September 2012
Dear sir,
iam a distributor of Generators.
i'll buy them from company (other state)& sell it in local state. company raises invoice in my name with split up like
basic price = 10000
excise duty = 1200
edu.cess = 36
CST = 645 etc.. i cannot use any of these as iam only distributor. how should i a/c this invoice ?
iam a distributor of Generators.
i'll buy them from company (other state)& sell it in local state. company raises invoice in my name with split up like
basic price = 10000
excise duty = 1200
edu.cess = 36
CST = 645 etc.. i cannot use any of these as iam only distributor. how should i a/c this invoice ?
Guest
Guest
(Expert)
15 September 2012
Debit the purchase account with full value i.e. 10000+1200+36+645=11881/-
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Reward for festival
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Appointment of Auditor By Form ADT-1
- ARCA LOGIN
- RCM and same line
- Import of Capital Machine
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- TDS Return Statement Status
- 18% Rent a cab
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
