How to maintains stock of prpaid moble recharge in the books
This query is : Resolved
santosh nehare
(Querist)
07 September 2011
dear all
one o my client is distributor of idea mobile prepaid recharge he get commssion u/s 194H he purchase from co. and sold to retailers but he get commission so it is not sale purchase for him and he is carrieng stock of voucher in hand now pls tell me how i make these entries in my books of accounts
one o my client is distributor of idea mobile prepaid recharge he get commssion u/s 194H he purchase from co. and sold to retailers but he get commission so it is not sale purchase for him and he is carrieng stock of voucher in hand now pls tell me how i make these entries in my books of accounts
CA Pushpendra Gaur
(Expert)
26 September 2011
Even he is distributor, he is not an agent of company as he is entering into the contract of buying and selling of prepaid vouchers
CA Pushpendra Gaur
(Expert)
26 September 2011
the balance amount of vouchers at the purchase rate would form part of closing stock.
CA Pushpendra Gaur
(Expert)
26 September 2011
If the distributor instead of buying the vouchers is only recieving and supplying the vouchers to the retilers and receiving the commision against such distribution then in that case the value of undistributed voucher doesn't form part of closing stock as it's company stock
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