FREIGHT & CST ON PURCHASE
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2010
HELLO ALL. I WANT TO KNOW DAT IF WE MADE PURCHASE AS OUR ROUTINE BUSINESS PURCHASE DEN ON DAT PURCHASE WE HAVE TO PAY SOME FREIGHT CHARGES AS INCLUDE IN ALL BILLS. SO CAN WE HAVE TO SHOWN IT AS FREIGHT EXPENSE OR MAY BE INCLUDE IN PURCHASE...?
I THINK IF WE ADD IT IN PURCHASE DEN TOTAL PURCHASE WILL BE INCREASE AND D FREIGHT EXPENSE WILL GET NO PLACE AND WHICH VIOLATE D TRUE AND FAIR PRESENTATION OF ACCOUNTS...SO PLZ CONFIRM ME WHETHER I HAVE TO SEGREGATE DIS EXPENSE OR NOT???
ALSO INPUT VAT IM SHOWING IN ACCOUNTS AS TRADER DEN WHT ABT CST PURCHASE..WHETHER I HAVE TO SEGREGATE CST OR INCLUDE IN PURCHASE????
WAITING 4 D BEST REPLY.....
RAKESH CHAUHAN
(MUKUND PATEL & CO. CA'S-ANAND)
I THINK IF WE ADD IT IN PURCHASE DEN TOTAL PURCHASE WILL BE INCREASE AND D FREIGHT EXPENSE WILL GET NO PLACE AND WHICH VIOLATE D TRUE AND FAIR PRESENTATION OF ACCOUNTS...SO PLZ CONFIRM ME WHETHER I HAVE TO SEGREGATE DIS EXPENSE OR NOT???
ALSO INPUT VAT IM SHOWING IN ACCOUNTS AS TRADER DEN WHT ABT CST PURCHASE..WHETHER I HAVE TO SEGREGATE CST OR INCLUDE IN PURCHASE????
WAITING 4 D BEST REPLY.....
RAKESH CHAUHAN
(MUKUND PATEL & CO. CA'S-ANAND)
13 August 2010
Freight can be shown separately as Goods/freight inward expenditure.Many organisations adopt the policy of inventorising the freight inwards and show the same as cost of goods sold.
CST can be shown as purchase.
CST can be shown as purchase.
Message likes :
1 times
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- TDS on TRUST
- Reprocessing of rectification order AY 2025-26
- Regarding Applicability of Tax Audit u/s 44AB
- Putting a heading on received mail
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- 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
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
