C form to be issued on which value
This query is : Resolved
07 March 2012
hi! we purchase stock from outside state in which we receieve cst bill amount to Rs.1230/- which shows as below
Basic Value 1000.00
cst 2% 20.00
---------------------
Subtotal 1020.00
insurance 10.00
adv freigth 200.00
---------------------
Bill Value 1230.00
Now can anyone please tell me on which value we have to issue "c" form to party and in accounting entry Purchase to be booked on subtotal value or bill value or freight to be booked separately as it is advance to transporter by party on our behalf or purchase to be booked (Basic+Cst+Insurance)
Basic Value 1000.00
cst 2% 20.00
---------------------
Subtotal 1020.00
insurance 10.00
adv freigth 200.00
---------------------
Bill Value 1230.00
Now can anyone please tell me on which value we have to issue "c" form to party and in accounting entry Purchase to be booked on subtotal value or bill value or freight to be booked separately as it is advance to transporter by party on our behalf or purchase to be booked (Basic+Cst+Insurance)
09 March 2012
Subhashji
As per my opinion you should issue C Form of Rs.1020/- for OMS Purchases.
You can account for Rs.1230 as Total OMS Purchases or you can book Freight and insurance separeately it will not make any difference
As per my opinion you should issue C Form of Rs.1020/- for OMS Purchases.
You can account for Rs.1230 as Total OMS Purchases or you can book Freight and insurance separeately it will not make any difference
25 August 2012
thank you
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- Showing Gift from relative in ITR for this year
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
