How should I adjust input sales tax, output sales tax & payment of sales tax in Accounts?

Regards

Salary paid to driver of company, shall be shown on payroll ?

If salary paid to driver of company for working on sunday. What is the treatment for disclosure ? Whether it shall be added on payroll or shall be shown separately, as misc. ( office ) expenses ?

valuable contribution of experts requested.

What is deffered Expenses ?? What are its implications in accounts ??

HI,

I need the exact accounting treatment of the following case in respect of forex rate difference:

An asset was purchased for 1000 USD on 10/5/2010 (rate of excahnge 1 USD = rs 45 as per bill of entry).

case I: when paymen is made to the party on 1/1/2011 the rate of USD was INR 48.00

case II: when paymen is made to the party on 1/1/2011 the rate of USD was INR 43.00

case III: when paymen is made to the party in the next financila year i.e.15/4/2011 the rate of USD was INR 43.00

Can someone explain me the COGS concept. ERP like Oracle Apps and few others follow the COGS Concept while accounting. Inorder to make accounts as per the New Schedule VI, how will Purchases be calculated?

Dear all,

how to add commodity name in tally,

wen we create new item in tally at there in head tax information tally ask about commodity name and that name show in 201 c (stock statement in GVAT) for that item..and some items are not covered in that default list....

please help me in this matter.....

Hi,

Please give your comments and suggestions for the case given below:


A company is preparing its financials for the first year. They have not commenced operations yet. Therefore the company is proposing to capitalize its expenses as pre-operative expenses to be written off from the year of commencement of operations. All expenses including depreciation on fixed assets is transferred to pre-operative expenses under miscellaneous expenditure. The company will not have Profit & Loss Account for the year.

Deferred taxation effect is not arising here. This will be considered with retrospective effect from the year of commencement of operations.

Is this procedure correct.

what should be the treatment of "share application money" in the books of investor keeping in view AS-13? Shall it be treated as investment or Loans & Advances. pl. support the answer with relevant case law, if any.

Scenerio Analysis for development cost for all packaging artwork and die development to M/s.V

Description:- Development charges for packaging artwork and dies development for the new MRP's for the product manufactured in M/s.C




Development Charges


Scenerio 1 Scenerio 2
M/s.G to M/s.C Step 1:- M/s. G to M/s. V Step2 :- M/s. G to M/s. C





Option 1 Option 2 Step 1
Description :- Invoice raised as tooling & development charges Description :- Invoice raised as labour charges Description :- Invoice raised as tooling & development charges

Transaction Details Transaction Details Transaction Details
Basic:- 3,55,808/- Basic:- 363069.38/-(Basic +2% added TDS) Basic:- 3,55,808/-
+ Excise :-5.15% -TDS:- 2% + Excise :-5.15%
+CST:- 2% Against C form +Vat:- 5%
Point to be considered Point to be considered Point to be considered
2 % CST loss in the transaction No CST Loss Excise and Vat Credit will be taken by M/s.C

Step 1


Option 1 Option 2
Description :- Invoice raised as tooling & development charges Description :- Invoice raised as labour charges

Transaction Details Transaction Details
Basic:- 3,55,808/- Basic:- 363069.38/-(Basic +2% added TDS)
+ Excise :-5.15% -TDS:- 2%
+CST:- 2% Against C form
Point to be considered Point to be considered
2 % CST loss in the transaction No CST Loss

please let me know if website development isa capital expenditure and we can charge depreciation on it?

If yes, then at what rate Depreciation be Charged?