please suggest a journal entry for a registered dealer purchased 10 laptops @ 32000 from an unregistered dealer.
Jitendra Kumar (75 Points)
05 September 2018please suggest a journal entry for a registered dealer purchased 10 laptops @ 32000 from an unregistered dealer.
NAGESWARAN
(ACCOUNTANT)
(834 Points)
Replied 05 September 2018
prasad Nilugal
( GST Practitioner & Accounts )
(14217 Points)
Replied 05 September 2018
yes I agree , due oversight I considered above query purchase form registered person to unregistered person , in fact its purchase form unregistered person to registerd . taxes are not applicable for unregistered person .
Lap top A/c Dr 320000
To creditors ( registered) A/c Cr 320000
( being purchase of lap top - Invoice no --- date )
Lap top will be under fixed asset
further want to inform that if your busniess is of purchase and selling of Lap tops then it will stock item and purchase A/c will be debited .
CAclubindia
