Hi
Our client office is in SEZ unit. We provide them employee transportation services. We raise monthly invoice "without payment of igst"
They had availed our services for their teams outing, for which we raised invoice "without payment". Now, they are asking us to charge igst as the services availed was not in sez unit. Should we raise invoice with igst charge?

below Response received from client:

“In attached Invoices vendor has not charged GST and mentioned the SEZ notification line of Authorised operation. However the service taken is for Team outing which will not fall under Authorised Operation as not for Business purpose. Hence vendor has to charge the IGST on attached invoices and we need to pay the full amount ie basic + GST to vendor. Thus request you to please get the revised invoice and also make necessary changes to Team budget request.”

Request to please change the invoice accordingly and re share it ASAP.

Dear Sir,

We supplied to SEZ DAHEJ UNIT BUT MATERIAL REJECT & RETURN WITH REPLACEMENT DOCUMENTS
NOW WE DECIDE TO DO NOT SUPPLY THE ABOVE REJECT MATERIAL.
WHAT KIND OF ENTY PASSED IN OUR BOOK OF ACCOUNT.
IF THERE IS ANY GST LIABILTY

KINDLY ADVICE.
VORA;

Firm With I am working is Partnership Firm, have small scale manufacturing unit. Now Partner have decided to bring new machinery for the product they manufacture, for which they have decided to apply bank loan, and discussion with bank shows bank will provide 80-85% bank loan and balance partner have to bring money.
So As per me Accounting entry would be as Under:
Machinery Purchase A/c. - Debit
Bank loan account- Credit(For amount of Bank Loan)
Partner's capital Account credit (For Amount of Partner's contribution)
Is above entry is correct?
What is your suggestion?

A commercial invoice was prepared in Zoho Books FOR USD 35000 without a CIF amount.

Later the invoice was revised manually and edited by adding the CIF SAY 45000 (35000 + 10000) and accordingly it was submitted and Shipping Bill was generated.

Subsequently, it was noticed during a test check that the value has not been revised in Zoho Books with the CIF amount.

Since it was noticed almost after 6 months in the same financial year. How do we account for that in Zoho books.

Dear Sir

Proprietor withdraw some money from bank ( Current account ) by ATM for personal need and some business purpose Can he withdrawal cash by ATM Card any problem face in future please suggest

Hi Anyone have DSCR Sheet?please share it on priority

While maintaining books of accounts of shares
maintain through investment
or
By Purchase and sale
My another question is that
Which method follow to maintain books of accounts ,
FIFO, FIFO Perpetual or Average cost.

Dear Sir,

In FY 2022-23 Assessment year 2023-24 Saving Bank account and FD bank account balance reflect in AIS form so assess can face any problem because he has 2 to 3 saving account and balance more then 12 Lacs. its not a one year balance its about 4 to 5 years balance. previous years his annual income is less then 2.5 Lacs so he not filed ITR but previous 2 years FY 2020-21 & FY 2021-22 to Contentious filed his ITR.

Hi,
i am working in a manufacture industry, we have corporate office , LC's are opening through corporate office on behalf of my plant, so we need to pass inter unit transactions. please advice me entries in this case from opening of LC to closing.

When Customer pays advance for procurement of Raw materials, the amount hits the company account and Purchase order is released by COmpany to vendor and the material is consumed equally in all months over period of 10 months. Whether the material to be accounted with value when received inside company. When the sale is done the material value is to be added to Sales and 10% of material advance to be adjusted in bill amount ? In this case is it essential to account the material with value upon receipt of same from vendor ?

For 2nd option, if Customer buys the materials and consigns the materials from vendor location, what should be accounting and billing practice.

In both options if the material to be valued in inventory and price adjustment to be done while invoicing ?

For 1st Option. can the customer advance ledger, Cash account and revenue account alone can be made use of without adjusting the inventory account ?
Which method is normal and correct ?