Accounting entry for e-1 puchase and sale under cst act

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CA & CFA Level 3
97 Points Posted on 16 February 2013

What will be the accounting entry by first buyer in his books in case of E-1 sale(Sale in transit under CST Act)?

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On 16 February 2013 at 15:55 Report
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accountant
369 Points Posted on 28 March 2013

A simplr entry to be passed in the books of 1st buyer

Dr to Debtors a/c

cr to Sales in transit or sales ag E-1 form

Thanks

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On 28 March 2013 at 07:50

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