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Lakhan Singh (1 Points)

18 January 2021

what is entry of cash scrab sales.

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3 Replies

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 18 January 2021

Cash A/c Dr.
To Scrap Sales

BE YOURSELF BELIVE YOURSELF (31 Points)
Replied 18 January 2021

Hii Lakhan Sir.

The entries would be.

1. If TCS provisions not applicable:-

Cash dr.
to Scrap Sales.

2. If TCS applicable:-

Cash dr.( Sale value + TCS)
to scrap sales(Sale value)
to TCS(TCS collected on sale value).

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 18 January 2021

Cash a/c dr
to scrap sales

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