Purchase accounting

Normally date of receipt of Materials alone will be considered. If its before 31st you can account since you are going to submit your VAT returns only in next month. Some company use to make even provision entries for these type of transactions.

V.P.NARSIMHAN IS ABSLOLUTELY RIGHT.

I thank a entry will be passed on 31 march - 

Goods In Transit Ac- Dr ----

       To Party A/c          Cr ----

and After receiving the material on 4th april the entry will be..

    Goods A/c     Dr-----

           To Goods In Transit A/c - Cr --- 

Thank you Mr sonu, but what about ED and VAT?