Purchase entry in tally

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what is the purchase entry of liquor and wine purchase with excise and tcs
Replies (7)

Purchases a/c

excise & tcs a/c

To Creditor a/c

that shuld be entered in purchases voucher

creditor a/c

To excise & tcs a/c

To Bank a/c

this will be in payments voucher when payment is met

Agree with yasaswi
What is the group of tcs and excise and tcs in tally

TCS Collected From Seller is Under Head of Current Asset or Capital Account.

 

If you have Purchase wine Bottle for Re-sale to Consumer 

Purchase Ac - Dr 

          Creditor Acc - Cr.

Becoz we will not get input credit of Excise Duty.

For further clarity please go through this link: https://help.tallysolutions.com/article/Tally.ERP9/Tax_India/excise-dealer/ed-purchase.htm

What is mrp rounding off accounting treatment and excise turnover tax treatment in tally of wine shops

 

 


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