Sale of capital goods
This query is : Resolved
CA Priyanka Goyal
(Querist)
30 December 2011
Sir,
we are going to sale one of our capital goods (Machinery). we will sale it against form C through central sale invoice. How the entry will be passed in Tally ERP9.Machinery will be sold in Rs. 16 Lakhs on which CST will be Rs. 32000. Earlier this machine was used as fixed assets.
Plz reply
Thanks in advance
we are going to sale one of our capital goods (Machinery). we will sale it against form C through central sale invoice. How the entry will be passed in Tally ERP9.Machinery will be sold in Rs. 16 Lakhs on which CST will be Rs. 32000. Earlier this machine was used as fixed assets.
Plz reply
Thanks in advance
CA Navin Jain
(Expert)
30 December 2011
BANK -DR RS. 1632000
TO MACHINERY- RS. 1600000
TO CST PAYABLE RS. 32000
2.Depreciation reserve Dr
to machinery
( Amt of depreciation charged from the date of put to use to date of the sale of machinery)
3. Loss on sale of fixed assets- dr
to machinery
0r
Machinery -dr
TO Profit on sale of fixed assets
TO MACHINERY- RS. 1600000
TO CST PAYABLE RS. 32000
2.Depreciation reserve Dr
to machinery
( Amt of depreciation charged from the date of put to use to date of the sale of machinery)
3. Loss on sale of fixed assets- dr
to machinery
0r
Machinery -dr
TO Profit on sale of fixed assets
CA Priyanka Goyal
(Querist)
31 December 2011
but sir in this way how can we issue central sale invoice as for issue a sale invoice there should be a stock item. We are to issue original sale invoice?
CA Navin Jain
(Expert)
31 December 2011
Issue a sale invoice.
CA Priyanka Goyal
(Querist)
31 December 2011
sir, to issue a sale invoice we have to create some stock item, how can i convert a fixed assets in stock item?
CA Navin Jain
(Expert)
31 December 2011
no need to convert the fixed assets into stock.
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