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Cst2% tax on purchase against c form

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Madams/Sirs 

How does CST2% Tax on purchase against C form reflects in the books of account since this is non creditable purchase   and how to adjust this amount since it is already under duties and taxes OR it should be added to the product. Kindly help

Replies (3)

it should be added as the part of central purchases. 

No exclusive entry made for taxes as it is non-creditable.

Entry will be :-     Central Purchases A/c - Dr

                            To Sundry Creditors A/c 

                     ( with amount excluding freight and any others charges paid by you seperately on                         that purchase; but including CST @ 2%)

 

Piyush Tanwar

Tiwari & Associates, Karol Bagh, Delhi

Mobile - 9717468521

Email - imcoolpiyush.tanwar @ gmail.com

Thank you, Will it be same for CST5% puchase that  tax to be added to Product  if it is so than how we will bifurcate  Purchase of 5% and 2% Etc  due to this the actual product value will change  

Thank You,


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