On 26-4-2011, M/s National Traders received a sales order from Excel Traders, Mumbai for 4 photo copying machines priced at ` 43,000 each. M/s National Traders raised a sales invoice for the said item vide invoice number 012, despatched 2 nos and requested the branch office – National Enterprises to despatch remaining quantity. CST @ 2% was charged while invoicing against C Form. The sale value and CST amount of goods despatched by branch office was reversed on 27-4-2011.



The above is a question given by Tally Solutions in its guidance book and following are the entries they gave:



Entry 1 (Interstate Sale Entry)

Excel Traders 175440

To Interstate Sales 2% 172000

To CST 2% - Interstate Sales 3440



Entry 2 (Reversal of Interstate Sales to Sales Outside the State)

Interstate Sales 2% 86000

To Interstate Sales - Tax Free 86000



Entry 3 (Transferring value of CST to Branch)

CST 2% Interstate Sales 1720

To National Enterprises 1720



My questions are following

I am clear as to the first entry.

But what are they doing in remaining two !!



Thanks

Shivani

shivaniadream @ gmail.com

Our CHA (Proprietor) paid Custom Duty of
Rs. 1230437.00 on our behalf & raised a separate debit note of Rs. 1230500.00 (Excess Rs. 63.00).

Should we deduct TDS on the full amount or not? As our CA suggested to deduct TDS and the reason for deduction did not explain.

Please suggest me what to do.

Sir,

A person has not filed Itr for the year 2011-12 & 2012-2013 . his salary was not taxable at that time and he was getting salary in cash . in 2013-2014 , His salary is taxable and tds is deducted . Now he filed Itr for the year 2013-2014.

He wants to take loan and the he needs Itr copy for three Years .

is he can file itr for the year 2011-12 , 2012-2013 ? whats the rule says ?

Sub Total 42,120.00
CST 2% "C" Form 842.00
COURIER CHARGES 1,600.00
2% CST ON FREIGHT 32.00
________
Total 44,594.00
________


Please give the Journal Entrie to be passed in the above mentioned situation.

Thanks & Regards

sir is it mandatory to register within 6 mnths from the date of starting xams and can i register by august2014 to write for nov15 ipcc

Dear,

"IS I AM REQUIRED TO DEDUCT TDS U/S 194IA "

If I am purchasing 2 offices in a single commercial building & consideration for each offices is Rs.35 lacs.

some other points to be kept in mind are:-

i. Seller & purchaser of both units are same.

ii.But address of both the property are different. Builder has given a seprate unit address to each office.

iii. The register sale deed for each office is also be seprate.

sir,
I had completed my articleship for a period of 13 months and had taken my transfer from old firm 15 before completion of 1st year but due to some reasons i could not submit my form.
sir, i would be highly oblized to get your expert advice that will my form eill be accepted.

can i file return of income tax for the asst year 2012 13?

What is the treatment in accounts if company paid ta and da exps for .in which account head exps shown?

An Excise dealer has issued invoice to it's customer. However the goods are issued as free samples.

The dealer has issued an invoice showing net amount Rs.0.48 and vat@ 5% Rs.0.06.
In the same invoice the dealer has shown excise duty of Rs.840, however the total bill amount shown is only Rs.0.54.

Can the purchaser take benefit of the excise duty shown in the bill, even though the amount of excise duty is not included in the total bill amount?

What accounting treatment should be given for this transaction in the books of:
1. Selling Dealer
2. Purchasing