cst
This query is : Resolved
28 June 2011
sir i m doing audit of a firm where there is interstate purchases,,, of which they do entry : puchase a/c dr
cst a/c dr
to party
which is perfectly OK
i want to know what will be the treatment of purchase return,,within 6 months and beyond both... what vl b the journal entry of that with example if possible
plz rply soon its urgent
cst a/c dr
to party
which is perfectly OK
i want to know what will be the treatment of purchase return,,within 6 months and beyond both... what vl b the journal entry of that with example if possible
plz rply soon its urgent
28 June 2011
purchase return within 180 days ....................it would be deducted from purchase and no CST payable,
beyond 180 days, CST is payable on such return.
beyond 180 days, CST is payable on such return.
28 June 2011
thanx but the entry of purchase vl be
purchase a/c Dr. (includin cst amt)
to party
is it correct?
purchase a/c Dr. (includin cst amt)
to party
is it correct?
28 June 2011
Either you have to file the CST return on quarterly basis or half yearly basis. If in one quarter you have passed the following entry
Purchase A/c Dr.
C. S. T. A/c Dr...
To Party account
Then you have paid the CST as soon the payment is made. Once the goods are returned then you have to pass the reverse entry as stated above.
This means the cast paid in one quarter can be adjusted against the CST of other quater.
Purchase A/c Dr.
C. S. T. A/c Dr...
To Party account
Then you have paid the CST as soon the payment is made. Once the goods are returned then you have to pass the reverse entry as stated above.
This means the cast paid in one quarter can be adjusted against the CST of other quater.
28 June 2011
Either you have to file the CST return on quarterly basis or half yearly basis. If in one quarter you have passed the following entry
Purchase A/c Dr.
C. S. T. A/c Dr...
To Party account
Then you have paid the CST as soon the payment is made. Once the goods are returned then you have to pass the reverse entry as stated above.
This means the cast paid in one quarter can be adjusted against the CST of other quater.
Purchase A/c Dr.
C. S. T. A/c Dr...
To Party account
Then you have paid the CST as soon the payment is made. Once the goods are returned then you have to pass the reverse entry as stated above.
This means the cast paid in one quarter can be adjusted against the CST of other quater.
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