Direct expenses in a textile manufacturing firm
This query is : Resolved
nitin gupta
(Querist)
28 May 2013
dear sir, I want to know what are direct expenses occurred in a loom business. what is weaving charges & processing charges in loom business ?
CMA Ramesh Krishnan
(Expert)
28 May 2013
Loom business, weaving charges & processing charges is the direct expenses. weaving charges nothing but labour charges for weave the cloth through by hand or machine help. processing charges is the cloth designing, printing & colouring etc.
nitin gupta
(Querist)
30 May 2013
if I am maintaining the books of a/c of a loom business then how can pass the entries of processing charges and weaving charges without supporting paper. kindly help me sir.....
CMA Ramesh Krishnan
(Expert)
30 May 2013
incase processing vendors doesnot have any invoice format, your self you can make some format get it authorised by them and account the expenses
14 July 2013
Direct expenses are thread, labour, power and chemicals with reel drawing and other expenses others are all indirect expenses.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- GSTR9 Annual Return
- Employee secondment
- Ito add credit side of bank
- Applicability of tax on invoice
- Rectification under processing even after 6 months cpc portal
- Form 144 TDS Return Validation error
- GST ITC as per notification 12/2023- central tax
- Import of Capital Machine
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
