Advanced Income Tax Act 2025
GST in Real Estate & Construction
Plastic Box purchase for own use. How I can pass this entry ? pls help me
Sir Your question is not clear please provide some details..
After all no entry is required to be passed for purchase of goods meant for household consumption. :)
Nice reply mahesh ji...
Sujith,
if it had been bought for production purpose, the entry shud be
purchase a/c. dr
VAT (if any) a/c. Dr
To Cash/Bank/Party a/c Cr.
if its just for office use it can be directly debited to Exps head.
If purchase belong personal use then it should affect Capital Account and purchase of plastic box would be treated as drawing of cash for some personal use.
so Entry would be...
(Debit) Drawing A/c
(Credit)To Cash A/c
( Being Plastic Box purchase for personal use )
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