i am doing excise part, now I have a dout Please clarify
any one. my question is I submitted July month return in
before 10th August. But we sold material in july to x party
excise value 12% - 1000, 2% - 20 and 1% - 10 Rupees
respectively, we paid this amount in the same month it's no
problem sir. but now x party reject the material and
invoice in september month. may i adjuste above paid amount
in september month return? How can i adjuste and where can
i metione this details in Excise return? please give answer
it's help full for me. Advance thanks for every one reply.
Income Tax Department sends cheque for INR 2 Crore as
Refund after completion of Assessment for A.Y.2011 - 2012
to a Company. As per IT Return filed for this year I.T.
due to Government was INR 60 Lac but was assessed at INR
70 Lac. TDS due to Company was INR 3 Crore which was
admitted as INR 2.7 Crore by Government. Government also
adjusts Tax dues for A.Y. 2009 - 2010 of INR 40 Lac which
was disputed earlier by the Company and Appeal was lying
with the CIT. Government pays Interest to the Company
amounting to INR 40 Lac. Provision for Income Tax made by
the Company in its accounts for F.Y. 2010 - 2011 (A.Y.
2011 - 2012) was INR 50 Lac. What would be the Journal
Entry at the time of receipt of Refund of INR 2 Crore
from the Government in A.Y. 2014 - 2015 in the books of