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/-
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