Hello dear Expert Filed gst3b and gstr1 from July to march and paid which liabilities arise at that time but some purchase Invoices add there after and after that I realised that I paid excess gst so now can I get the refund it if yes then what should I do

Capital budgeting under inflation is not in the syllabus not a single line and question given in the module and they asked in the exam it is unfair from students point of view Can student get marks for out of syllabus question if question is attempted

Please let me know if a company procure a land for which brokerage paid to an agent whether the amount should be capitalized to the Asset or brokerage amount will be shown separately in the profit and loss accounts.

Good Afternoon Experts, Can you please clarify me whether purchase of laptop battery can be capitalised or not? What i feel is it should be expensed out as it does not increases the performance of laptop. Its just maintain it in good condition as it was before at the tym of purchase.
Please Advice....

Hello dear Expert TDS deposited but not file till 31/5/2018 then what should I do

Accrued interest income has been accumulated over the years. During the current year I need to reverse all prior year accumulations. Where should I disclose such reversal in financial statement? Whether it will constitute as a prior period item or an exceptional item? What are the disclosure requirements?

Regards.

If we purchase safety shoes & raincoat for worker staff for purpose of factory production work . Then under which head we book same expense? staff welfare or ?

During the year 2017, Company has given the job work for Manufacturing of Jewellery to China Factory. Factory charge to the Company is 15 CNY Currency per gram for Casting+Filling+polishing (Process under Jewellery Manufacturing) and once Goods are ready from this Process then Diamonds will be set in the Jewellery for which Factory will charge 3 CNY Currency to Company per Pcs of Diamonds..

Now Once the Finished Goods are ready they will ship from China to Hong Kong and According to above rate they will issue Labour Invoice which is straight forward Exercise and According to Labour invoice we book under Labour charges in Company.

But to Start Production of Jewellery Company Need to Give the Gold In Advance to Factory and this account will be like Running Account of Gold Balance. For Example Company has given 100 KG Gold to Factory in 2017 and out of that Factory has given back the Finished Goods of 92 KG to the Company.

Now in Above Para issue is balance of 8 KG (100 KG-92 KG) which Factory charge to Company under Normal Gold Loss/Wastage which is fixed as 8% with the Company which company has to pay to them.

Now Two Issue from the above Story- One is where we should account gold Loss ? Currently we are booking as purchases of 100 KG under Purchase Gold only As Factory has given 92 KG Gold Finished Goods to the Company and Company has delivered the goods to Customers so We should account Purchase Gold to the extent of 92 KG only or

We should account 100 KG as purchases of Gold as well as 8 KG Gold Loss under Labour expenses?

Please help to clarify the above issue

Hi,

One of my clients provides services to foreign entities and the rates are agreed at foreign rate.

While passing accrual entry whether it should be in local currency or foreign currency and then convert it into local currency.

Also if i am recording the accrual entry at foreign currency then while reversing it there will be a exchange fluctuation (even though it will be very minimal), what should be the treatment and also is the fluctuation which is notional in nature allowed as per the Income tax act.

please share relevant documents or references if possible.

i have replaced display glass bcoz previous was broken,
so i purchase new glass for RS 16500/- what kind of entry i have to pass repair & maintenance or furniture & fixure ?