i Being construction company (Joint venture)have paid VAT at the time of purchase of Raw material.....by my sale being flats for which i do not collect vat.....
that means vat that i had paid at the time of purchase of Raw material should be refunded to me... and i should record VAT refund receivable on the Asset side.....where should i give my second effect??

Which method is recomended by ICAI DIRECT OR INDIRECT

exchange rate of which date is more preferable for booking Export Sales of Goods


1) Date of Bill of Lading
2) Invoicing Date
3) Any other Date

Pl. also referred link or Source from where we get information related to export

i have client, who remits sum to their parties abroad.

the invoice inr value and whatever payment tht has been made differs to rate difference on 2 different dates.

in this case, what shud i do. shud i book the extra payment under other ledger (foreign exchng diff)

or shud i book it as entire purchase and dont get into bifurcation?? pls advice.

i m confused

Dear Experts I am maintaining accounts in Tally 9 software & I entered all transactions for the month but it is showing difference in opening balances at Profit & loss a/c site in Balance sheet.please tell me how I can remove this.means how can solve this problem.sir one of my friend was telling me that I should make entries for both side then it will tally but I didn't understand means what kind of entries I should pass.please given me example.

I HAVE A BANK A/C HAVING AUTO SWEEP FACILITY .

TELL ME HOW TO PASS ENTRIES FOR INTEREST, RVERSE SWEEP AND CLOSURE PROCEEDS IN TALLY.

THANK YOU

I want to know what is the accounting treatment for unreconcillied vouchers in bank accounts in the next F.Y also wants to know on which balance will take for bank accounts next F.y

Dear Experts I am maintaining accounts in Tally 9 software & I entered all transactions for the month but it is showing difference in opening balances at Profit & loss a/c site in Balance sheet.please tell me how I can remove this.

While making export of goods..
there is a difference in USD rate at the time of billing and at the time of realisaiton.

Pl. advise how to make entry and adjust the difference...

Also comment on how to make entry in tally

Dear Sir/Mam,


Kindly inform me about the journal entry of the following :-

Q. Once A Businessman was going with his hors-cart to bring some goods for his day-to-day transaction of his business. In the way, the Horse died, so he decided to sell his cart & finally sold it for Rs. 5000/-


(Original cost price of Horse is Rs. 8000/- & of Cart is Rs. 7000/-)

Kindly give the journal entry.

Thanking you,