sales
This query is : Resolved
Jayesh N. Tribhuvan
(Querist)
17 August 2009
I would like to know whether sales should be booked gross (net sales + excise duty) or it should be booked net and excise duty should be accounted separately.
Further i would like to know whether excise duty paid on finished goods is booked as manufacturing expenses or adjusted against payable.
I would appreciate if somebody reply with proper jv to illustrate properly regarding 1) sales entry 2) payment of excise duty entry.
Awaiting for reply.
Thanks
Jayesh N. T
Further i would like to know whether excise duty paid on finished goods is booked as manufacturing expenses or adjusted against payable.
I would appreciate if somebody reply with proper jv to illustrate properly regarding 1) sales entry 2) payment of excise duty entry.
Awaiting for reply.
Thanks
Jayesh N. T
18 August 2009
In either ways the net impact would be same but preferred to book Excise seperatly.
Exccise duty on FG should not be mfg exp.
Exccise duty on FG should not be mfg exp.
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
- Reward for festival
- 18% Rent a cab
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Movement of goods by packers and movers - type of sale - Reg.
- Gst credit note by supplier
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Closer of business and itc of capital goods
- Rectification under processing even after 6 months cpc portal
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
