Dear All
Our is a automachine Manufacture company we have give a warranty period for 1 year. with this period if any spares is replace free of cost we are registered under the central excise
1) if the spare is free replacement how do we account in the books of accounts. and RG 23, ER1 & ER5 and under Karnataka VAT
2) some brought goods are purchased with VAT invoice were central excise input is not involved. In this case how do we account in the books whether it will effect the Central Excise and how it effect in VAT returns.
Kindly do the needful at the earliest I have kept the things pending
CAclubindia
