Entry of cst on fixed assets purchased
This query is : Resolved
08 September 2009
If we purchase a machinery and cst is charged toi it then wat entry is passed.
and
is cst niled by passing a reverse entry
also
cst account is crested under wat head
and
is cst niled by passing a reverse entry
also
cst account is crested under wat head
09 September 2009
You can get the credit of CST so if youa re capitalizing it you have to park reversal fo the same.
Machinary Dr
CST Cr (As it is your liability)
Bank Cr (Payment)
Reversal :
CST Dr
Bank Cr
Machinary Dr
CST Cr (As it is your liability)
Bank Cr (Payment)
Reversal :
CST Dr
Bank Cr
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