RAWMATERIAL PURCHASE PRICE 8892.00 + VAT AMT @ 5% 445.00 DT. 06.08.13
CREDIT NOTE RECEIVED FROM PARTY RS. 750/- FROM THE SAID PARTY FOR RATE DIFFERENCE
MY QUESTION IS IN SALES TAX RETURN PURCHASE PRICE WHICH AMT TO SHOW ? IS IT 8892.00 OR AFTER DEDUCTING 750/- FROM 8892.00 = RS. 8142.00
ALSO INPUT VAT TO BE TAKEN RS. 445/- ? OR 8142X5% = 407.00 ?

PLEASE GUIDE

a manufacturing company has purchased cutters for its machine.cutters use to be attached in machine to cut the iron they are around of Rs. 1 lac each (8 or 9 nos).but the useful life of cutters are not ascertainable it can be one day or can be 10 years.so what should be accounting treatment for Purchase of cutters it should be capitalize or not.

my company has a hotel in which an event was organized i got a bill which is waiter charges amounting 2550 i want to know in which head of exp it will journalise mean under which head of exp it will shown

in reversal of impairment loss why we first allocate to Identifiable asset and balance if any will be allocated to goodwill?
And when we record impairment loss than it is first charged to goodwill and then identifiable asset?? give me answer with logic and reason i want to understand.

whether institute / mca authority keep record of number of statutory audit done by a practising chartered accountant ? please give full detail answer

Bank Overdraft will be classified under which head in Revised Schedule VI?? Current Liability or Short Term Borrowing?

Sir,

I want to know what types of taxation transaction is made in real estate business.


Regards

Deepak Das

On what date is the import bill accounted in books?
Is it to be accounted on the date of commercial invoice/ date of bill of lading/ date of bill of entry and accordingly which exchange rate to be recorded?
No advance payment has been made against the same. Capital item is purchased.

Experts,

Please suggest me regarding accounting treatment(also presentation in Revised Schedule VI) in the following scenario:

Let us say there are 2 units-A & B.

Unit A has transferred its FG to unit B for its captive consumption through excise invoice.

Y closing stock not cuming in trial balance?