Answer Posted / h.r. sreepada bhagi
E-1 Sales means Sales in Transit under CST Act. E-1 is the
form used for proof of Sale in Transit transaction between
the parties in different states in India.
Example - X orders for some goods with Y in another state. Y
dispatches the same with applicable tax invoice as per CST
Act., but during transit X sells the goods to Z and makes
invoice and have the goods delivered to Z with necessary
documentation and communication.
In this transaction C-Forms will be issued by the buyers to
the sellers and E-1 Form will be issued by Y to X.
In international transactions there is a concept of High-Sea
Sales on the same lines.
For more information refer CST Act of the state in which you
are working or consult an indirect tax consultant/expert.
Is This Answer Correct ? | 75 Yes | 10 No |
Post New Answer View All Answers
What is capital adequacy ratio? What is demat account?
what is retention? how caculate on asset
What is the difference between perpetual and periodic inventory systems?
what is penaultimate sale
What is royalty reserve?
What is the entry to be passed on receiving the tds certificate in the books of the deductee?
plz can some one tel me "The concept of stock holder's equity and paid in capital".
Pl's confirm me this entry how to pass in Tally 9.0 & Tally ERP.9 that if I purchase 20 mobile,30 phone,20 LCD,15 laptop from mangesh @ Rs.7000,Rs.200,Rs.17000 and Rs.14000 respectively on each. But I purchase by cash and 15 days later I sold half of the thing to priya margin of Rs.100 on each by cheque and rest i sold to minal on cash margin of Rs.200 on each. But I received cash 1 month later. so calculate how much profit I got by selling the products.
the bank returned S meyer cheque for R450. the cheque has been dishounerd because of insufficient funds, discount of R50 was allowed the account was settled
Explain what makes a successful account manager?
Tell me under the accrual basis of accounting, when revenues are reported in the accounting period?
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
Tell me what is the equation for acid-test ratio in accounting?
Please help me with the accounts head for the below ledgers for e.g. for Salary A\c - Indirect Expenses is the account head in tally. what is the account head for below ledgers. Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary Payable A/c Dr. xxx To Cash / Bank A/c xxx