We received a purchase invoice containing cost of spare parts (HSN- 8471) and cost of service charges (SAC 9987) to get repaired one of our plant & machinery using in business.
While recording this purchase invoice in books of accounts under the Head "Repairs & Maintenance (P&M) A/c ", do we need to mention only SAC-9987 for the entire invoice value? Or do we need to mention SAC and HSN both with separate bifurcation?
02 April 2024
Thank you sir... Your answer is helpful for me, and I think it will help and guide many accounting people who might be in confusion with this issue. Regards..
02 April 2024
Yes, I agreed with Mr CA Bhavik P Chudasama,
It will be account in separate head. Then its helpful for the expenss of service of machinery and it's spare parts.
CAclubindia
