Santosh Kr.Mishra (To Become a Chartered Accountant) (104 Points)
05 July 2011Suggest Me what accounting treatment i can do in following situations.
Mr.A transfer goods to Mr. B (by an transfer invoice and not charged vat on such transfer)
then Mr.B sells such goods in his name and charged vat on such goods nd deposited all vat liability on sale then after deducting his commission he transfer all sales amount to Mr. A .
Mihir
(Wealth Manager)
(5293 Points)
Replied 05 July 2011
In books of account of Mr. A
By Mr B
To Sales
To Mr. B
By Commission Paid
To Mr. B
By Bank
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
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