Cenvat credit
This query is : Resolved
23 April 2010
Actual its is queri of vat and excise. In vat and central Sales Tax at the end of year,as per accounting standards when we actual material received then only we can enter tranasaction in books and we can avail cenvat credit asper excise rules but problem is that in Central Sales Tax we have to issue C'form and other form by considering bill date. Eventhough if we enter bill as per bill date and for stock purpose if show stock in transit then issue is that can we do so for excise only means will avail credit in april but bill in march please guide me in this also consider balance sheet effects -duties tax account cenvat-currentasset account.
24 April 2010
Only you will demond sales tax Form C in requition for those material bill in that quarter but material recd in Next quarter.
in accounts purchase will booked when material recd.
Form C to be issued in Bill date Quarter wise.
Only reconciliation to be given to department
as per saes tax return
as per form requition submited to department.diffrence of next quarter purchase to be veryfiy by reconciliation
in accounts purchase will booked when material recd.
Form C to be issued in Bill date Quarter wise.
Only reconciliation to be given to department
as per saes tax return
as per form requition submited to department.diffrence of next quarter purchase to be veryfiy by reconciliation
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