Answer Posted / amit kumar tiwari

Take provision Rs.300, 000 as per vendor confirmation up to 31 March after that total bill will book in April in receptive heads and tds will deduct Rs.3000/- suppose your vendor was supplying printing Materials

31 March
Printing & Stationery Dr.300, 000.00
To Expense payable cr. 300,000.00
(Being Provision taken up to 31 March)

01 April
Expenses payable Dr. 300000.00
To Printing & Stationery Cr. 300000.00
(Being entry reversed)

April when you receive bill

Printing & Stationery Dr.300000.00
To Vendor 297000.00
To TDS on Contract 3000.00
(Bill No………….. for the Period: ……….Tds 3000/- Already deducted Jan )

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I AM A/C'S MANAGER IN CONSTRUCTION CO.WE TAKE TRANSIT MIXTURE ON RENT BASE FROM OUTSIDER.THE SUPPLIER CHARGE VAT ON THAT MACHINERY @ 15%,IS IT TRUE? IF YES PL.SAY ME WHICH SECTION APPLY UNDER THIS LAW OR NOTIFICATION OR CIRCULER FROM COMMERCIAL TAX DEPATMENT.

2576

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1932

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what diff. between Account ,Commerce and Finance?

2340

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2103

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