Let Goods Costing is Rs.190/- . But Supplier Charge Rs. 197/- which is Rs.7/- excess then the original price and his bill Shown after all taxes (Excise duty 8.24% and CST 2%) Rs.218/-.

On above the Supplier charge 7/- excess in thier bill. And we book the Bill amount in our Books.
In that scenario how we deal with the excess amount, if we issue Debite Note for that than it will be for only 7/- or With taxes related with this.

sanojsharma84@gmail.com

Dear Sir's

I am transfer salary to my employees in their salary accoun.
some employees have salary more then Rs. 5000.00 should i have take a receipt with revenu stump or this is bank transection so there is no required.

Thanking you
Harish

if purchase software of Rs: 50000 in a compnay ,wheather we need to consider it as addtions to FA

if RAM of Rs: 2750 purchased for laptop in a compnay ,wheather we need to consider it as addtions to FA

Dear All,

I am working in a private Limited Company. But in this company I observed that employees are using their personal credit cards for making official payments. Also in one case somebody else's credit card has been used to book ticket of another employee.

Is it a proper practice or we should have corporate credit card for official expenses? As per my opinion they should not execute such practices in an organization.

Dear Friends,

I have this query regarding Depreciation Accounting. If an asset is purchased on say, 01st Apr 2000 with estimated life of 10 years and its depreciation rate is given 25% p.a. on Straight Line Method. What will its treatment in books of accounts after 4 years..?

It is an ICWA exam problem.

We have an agreement which speaks that they have commitment for x no's irrespective of whether X will be executed or not. We recognise Income when we get the booking of X and then x is delivered at a later date. Now the query is X should be recognised on booking or on the basis of delivery. AS-9 speaks that Income should be recognised on Delivery but it is very silent when we have commitment from the customer for monies received.

How to account for investment in associate in case where the associate was the subsidiary of the holding company and due to allotment of share of subsidiary it becomes associates?

An exporte from Maharashtra dispatches goods under TAX INVOICE through a logistic contractor to Europe. The goods are stored in a godown in the city where the customer is located (i.e. in Europe) . The rent, insurance etc of the godown is paid by the exporter. The commercial invoice is prepared only when the goods are lifted by the customer from the godown. The payment terms are also based on Commercial Invoice. At what point of time the accounting of sale shall be made? Whether at the time of dispatch of goods from the exporters factory or at the time of Commercial Invoice.

example : dealer- culcutta, supplier- hyderabad & user-maharashtra

If hyderabad manufacturer send the material directly in maharashtra by showing in invoice the buyer(dealer-culcutta) & consignee(user- maharashtra) & culcutta dealer raised the commercial invoice to maharashtra by claiming C-FORM by adding it's margin, then what will be the billing structure & tax details.