Help-selection of right purchase a/c in interstate purchase.


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Querist : Anonymous

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Querist : Anonymous (Querist)
28 March 2013 We were strugglig with accountant and in a year, he had to change 3 accountant.

Each one passed entry in different way by debiting different accounts for the same kind of transactions.

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This is the case of Interstate Purchase:
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Please help me out, What is correct, What is not? Which Purhcase account should be debited and in what case?

Case 1:
Purhcase from Indu Embroidery, Mumbai vide Invoice No. 4750 dated 05-11-2011 having invoice value of Rs. 2200 where supplier has added Rs .0 under M.VAT% and we have accounted Rs. 2200 against Purchase Exempted. Neither Purchase - CST - Exempted not Purchase - CST @ 25 Against C Form

Case 2:
While on the same item, Purchased from Junjun Impex, Chennai vide Invoice No. JI/1322 dated 11-11-2011 for Rs. 7808 where goods value is Rs. 7728 and P&H Charges Rs. 80 and Tax@ 5% is Zero. In this case we have accounted RS. 7808 against Purchase - CST @ 2% Against C Form.

Case 3:
Purchase from other supplier from New Delhi vide Invoice No. 053718 dated 29-10-2011 having invoice value of Rs. 71530 where supplier has added nothing as tax and we have accounted purchase Account as Purchase Exempted?


Waiting for your support.

Rupesh (Expert)
26 April 2013 These all should be accounted as Purchase - CST (Exempt)


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