FREIGHT COST INCURRED ON PURCHING OF MATERIAL IS TREATED AS EXPENSE OR TO BE INCLUDED IN THE VALUE OF PURCHASE .

i purchase goods [food grain and pulses] and received bill for full amount party issue 4% discount on bill amount.please advice me should i pass entry after discount amount or for full bill amount .as if i record full bill amount my gross profit is showing excess.bill amount 100000 discount 4000 payment 96000.please advice me with legal view what is correct?96000 or 100000
with thanks

Sir,
Sec 44ada professional income it returns filed person creditor and debtor outstanding ledger balance as on 31-03-21(year:20-21) in books.
Cash loan to debtor balance Rs:4 lacs
Cash loan from creditor balance Rs:3 lacs
1.F.y.21-22 cash loan from creditor balance amount rs:3lacs amount transferred to cash loan to debtor balance amount adjustment journal entries passed in books.
2.remaing outstanding balance amount rs:1 cash received from debtor
Question:
1.assess journal entries passed in books allowed in it act(sec 269ss and sec 269t provision applicable)
2.remaing rs:1 lacs cash receipts allowed in it act.

can land lease be capitalised? n if yes how its accounting is done?

Hi All,
In Invoice In B.O.E Remarks
Invoice Amt 7939.64 8099.64 (7939.64+160 FOC Items)
Handling Charge 250 250
8189.64 8349.64
Freight F.O.B 255.5
8189.64 8605.14

Payment Done 8234.02 8234.02

Balance Amount -44.38 371.12

Got confused in submitting BOE in Bank,Please suggest the balance amount.

Hello,

How can books of account the nature of transaction like BILL TO SHIP TO. In this Transaction what is entry passed in material received party books of account.
Suppose A-B-C
A-BUYER
C-SELLER
B- GOODS RECEIVED in that case what is the entry passed in B- books of account

Kindly advice.

To
The
Experts
Does Valuation of gratuity by Actuary as per AS 15 is compulsory for every enterprise.

Our company is a 100% State Govt owned company and its capital base is Rs.15 crore and Turnover is Rs. 102 crore.
Can it avail exemption available to SME(as per 2020 definition of SME) sector from applicability of AS-15 in its ENTIRETY?
Regards
Abhijit

I am not able to find Estimated assumed raw material required on working capital for bank project report on operating cycle basis of a newly establishing garments manufacturing firm....Could anyone please help me with this??

I have an FD against which bank has given me OD facility of 90%
how do I pass the payments made against the OD account, will this affect the normal current account.
The bank will charge me interest only on the amount utilized.
Please help me in creating the heads of account in the books and its effects

Sir,
It assess friend rs:15 lacs amount transferred my (assess ) bank account credited.if some days after assess rs:15 lacs amount withdrawal pay to friend through on bank mode.
Friend rs:15 lacs amount used for site purchase purposes.
Question:
Assess above mentioned transactions treated in books.