Balance at the end of accounting period
This query is : Resolved
14 April 2014
manufacturing firm sold goods to the whole seller on 28/03/2013 as follows
s.debtors A/c Dr. 110
To sales 100
To Excise Duty 5
To Vat payable 5
vat & excise duty paid on 5/04/2013
Q. 1 at the Balance Sheet date the amount of duty liabilities shall stand at the Current liabilities or what?
Q-2 in case of firm providing taxable services and acquired service from the taxable provider
the tax credit of service tax shall be eligible or not?
s.debtors A/c Dr. 110
To sales 100
To Excise Duty 5
To Vat payable 5
vat & excise duty paid on 5/04/2013
Q. 1 at the Balance Sheet date the amount of duty liabilities shall stand at the Current liabilities or what?
Q-2 in case of firm providing taxable services and acquired service from the taxable provider
the tax credit of service tax shall be eligible or not?
Vishnu Saboo
(Expert)
14 April 2014
Excise duty payable as on 31st March to be paid by 31st march only.
yes Vat payable will be shown in statutory dues.
service tax credit may be availed al together you booked ur liability.
yes Vat payable will be shown in statutory dues.
service tax credit may be availed al together you booked ur liability.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
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
