Dear All,

We are into supply and managing of quality control equipments. We have started working with some plant wherein we are providing our material and services. For this, we have to procure some material and accessories from local market. Our client is paying us on the basis of production e.g. Rs. 7 per ton.

Now, we have to prepare two bills for supply part;
(1) For supply of local material. We prepare our sale bill (on the same purchase price e.g. without any margin) so that client can avail cenvat.
(2) For our billing which is based on production (material part). Service part is separate and no problem in accounting.

This is to note here that client has to pay only our billing (based on production) and not for the local material as full supply is in our scope.

Now, the problem is how to manage both transaction simultaneously in accounting as we need to pass on cenvat also and also require to bill on the basis of production qty.

if anyone can suggest the proper accounting, any queries are welcome.

what are the items covered under ACCOUNTS RECEIVABLES & ACCOUNTS PAYABLES?

input cst @ 2% - 1300.00
input vat @ 5% - 7500.00
output vat @ 5% - 11500.00
end of the quarter how to record vat & cst adjustment entry.

in the 3rd quarter
interstate purchase 65,000/- + cst 2%
vat purchase 150000/- + vat 5%
vat sale 230000/- + vat 5%
now quarter end i have to record vat & cst adjustment entry in the quarter end so how to record this entry.

if an individual is having a asset (dumper) wdv as on 01/04/2012 138058 and purcahsed a new asset in oct 2012 for 750000 dep has been charged @ 30%. In 2013 the newly purchased asset has been sold for around 506000 in sept 2013. what wil be the closing bal as on 31/03/2014.

Sir,
When you calculate the 85% of income for charity payments, does 85% include the administration
expenses of the trust like rent, salary, and other running costs. Can anybody replay me please.

Dear Sir,

I have a client his all sales is cash, we have make entry Cash Debit and Sale Credit

more than 60% payment he received from card swipe machine Direct to bank we want to know how to make entry in the books of account as per bank statement.

pls explain what is exchange fluctuations loss or gain with case study. Thanks Shiva

l have housing loan .Bank has given payment certificate of rs 144000 which includes int amount rs85000. please explain it benifit

Dear all, please help me out regards how to pass the journal entries in books of service receiver, where 100 RCM is involved.