entry for purchase of consumable
This query is : Resolved
07 September 2010
hello friends,
for purchase of consumable items following entry is passed by a ltd company.
consumables a/c--------dr
vat a/c----------------dr
To Party A/c
my query is since vat credit is not allowed on consumables items is this treatment correct??
please clarify
thanx in advance
my id abhipcc@rediffmail.com
for purchase of consumable items following entry is passed by a ltd company.
consumables a/c--------dr
vat a/c----------------dr
To Party A/c
my query is since vat credit is not allowed on consumables items is this treatment correct??
please clarify
thanx in advance
my id abhipcc@rediffmail.com
08 September 2010
Input vat on consumable Items related to Manufacturing of Goods/ reparing of Machinery is allowed for credit.
Entry is ok
Entry is ok
08 September 2010
ya its ok
but be specific for vat matching
expample
Consumables 4% a/c dr 100
input vat 4% A/c dr 04
to Party 104
but be specific for vat matching
expample
Consumables 4% a/c dr 100
input vat 4% A/c dr 04
to Party 104
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- STCG FOR GOLD ETFs
- LTCG for Assmt year 26-27
- Loan by Partnership Firm
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
