What does the word credit mean in terms of accounting?
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A machinery item puchase form M/s. XYZ for the cost of Rs.2,00,000/- with freight charges Rs.20,000/- and installation charges Rs.10,000/- what is the journal entry
4 Answers Chartered Accountant, Sony,
As a Manufacturer we are paying service Tax on Inwards freight and the same amount we are taking as a credit against payment of Excise duty. So,Pls clarify how to pass JV
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Hi Everyone, We purchased the Goods from other state, and I am liable for Entry Tax, my entry Tax is deposited in bank before 15th of every month. Now my questtion is : I purchase the Packing Items from other state but I return the same to suplier should it require entry tax deposit or not for this items. please explain
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