Accounts..doubt

Duty drawback is refund of excise duty(in some cases service tax +excise duty +custom duty) paid on raw material used for finished goods which is to be exported

 

Duty drawback is type of indirect income 

Therefore practically this is credited to P&L account not to trading A/C

 

Q2,According to Accounting standards Sales Tax does not form part of revenue ,Therefore it is not credited to Sales account ,but separately credited to Sales tax payable account,

Hello , This is Formulae derived by Ca.Bishwa nath sah for calculating the time-confusing Log or Natural logarithm.Presently , I am teaching SFM/MAFA –(The coaching centre named REAL DESTINATION ACADEMY ,Shakarpur,New delhi). By Ca.Bishwa Nath Sah LOG/Ln (X) = [19 TIMES√X MINUS 1]* 227695/524290 Where Log means Logarithm and Ln m... eans Natural Logarithm. Where BABA constant Log = 227695 BABA constant Ln =524290 For Example: Log 12345.6789 = [ 19 TIMES√12345.6789 ]MINUS 1 *227695 =0.0000179694099 *227695 =4.0915 (APRROX.) NOW WE CAN CALCULATE ANY NUMBER IN THIS WAY .SIMPLE CFOHimalayaHouse ProfessionaLearning CA.Bishwa Bishwa Nath