Deduction from the Invoice amount towards ESI
This query is : Resolved
Laxmi Narayana Sahu
(Querist)
06 December 2007
An amount of 5 % has been deducted from the Tax Invoice issued under the Maharastra Value added Tax Act by the customer .
Please Explain :
1.Whether any amount is deductible from the invoice as ESI.
2.If Yes ,what will be the accounting treatment for the same.
3.Please specify the relavant provisons under any Act for the same.
4.If deduction is sustained than whether any certificate is to be obtained in this respect.
The act of answering will behighly appreciated.
Please Explain :
1.Whether any amount is deductible from the invoice as ESI.
2.If Yes ,what will be the accounting treatment for the same.
3.Please specify the relavant provisons under any Act for the same.
4.If deduction is sustained than whether any certificate is to be obtained in this respect.
The act of answering will behighly appreciated.
S.Srinivasaraghavan
(Expert)
18 October 2008
THe answer depends upon your clarification.
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