Dear sir,
I have received an invoice amount after deducting Labour Cess.
how should I treat labour cess as an asset or as an expense..
please help in this regard...
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Reg: Labour cess
Replies (7)
On which invoice item labour Cess is deducted ?
It is Labour charges on gst invoice, I think
Labour charges on which item ?
On taxable amount!!!!!!!!!!!
| Originally posted by : harish kumar | ||
 |
Dear sir,I have received an invoice amount after deducting Labour Cess.how should I treat labour cess as an asset or as an expense.. please help in this regard... |  |
That's an expense not asset.
There is no any benefit of labour cess
Debit as expenses of reduce your labour charges A/c.
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