while accounting can purchases and sales should be shown at invoice value ? since client needs turnover and purchases at invoice value
if sales is shown at invoice value it contains taxable value + gst received from customers
but my doubt is in case of purchases shown at invoice value contains taxable value + gst paid (input credit)
what should be the treatment for input credit whether it has to be shown as asset or expenditure
if it is considered as asset what will be the respective credit ?
can any one clear my doubt regarding this
How to calculate cash credit interest?
I am a cement dealer's business and gst tax payers but some cement use my personal house building construction, use cement show my gst return gstr 3b u/s 17(5) but how to i prepare trading account and balance sheet that my problem use cement...show my account statement and Income Tax Return .......plz sir help me
My question that I am a truck purchase only ours business use only my goods carriers so my business not INCOME for truck how arjest vehicles expenses and gst ITC CLAME eligible or not
I am sale a motor car through car 24 agency @ 398000/- where as my car book value is 410000. I am doing below entry
Sale on Car 24 - Dr 398000/-
Loss on sale of car - Dr.12000/-
To Motor Car - 410000/-
My questing is which head is Car 24? is it Sundry Debtors?
Please share what is the requirement of tax audit ?
Fixed assets are stated at historical cost less accumulated deprecation what is the meaning for that
is this any problem
a proprietor how much amount he can use for drawing in a year ?
We are providing agency service to ships on the Port. We release Debit note for Vessel owner in USD for any cost incurred in the INR. For example, a bill of Rs 2500 was received from Vendor; we issued the debit note to the ship owner, USD 40 for the transportation fee. We book the reimbursement expenses in our accounts at USD@ 68. Differences of Rs 220 We have earned extra money. What is the treatment in accounts earned 220 Rs & GST is applicable earned Rs 220/-
My one question
My Accountes cheque received 31march and bank clier 2april how adjustment entery because party accounts closed 31march and bank statement not equal to BOOKS statement