C form to be issued on which value
This query is : Resolved
07 March 2012
hi! we purchase stock from outside state in which we receieve cst bill amount to Rs.1230/- which shows as below
Basic Value 1000.00
cst 2% 20.00
---------------------
Subtotal 1020.00
insurance 10.00
adv freigth 200.00
---------------------
Bill Value 1230.00
Now can anyone please tell me on which value we have to issue "c" form to party and in accounting entry Purchase to be booked on subtotal value or bill value or freight to be booked separately as it is advance to transporter by party on our behalf or purchase to be booked (Basic+Cst+Insurance)
Basic Value 1000.00
cst 2% 20.00
---------------------
Subtotal 1020.00
insurance 10.00
adv freigth 200.00
---------------------
Bill Value 1230.00
Now can anyone please tell me on which value we have to issue "c" form to party and in accounting entry Purchase to be booked on subtotal value or bill value or freight to be booked separately as it is advance to transporter by party on our behalf or purchase to be booked (Basic+Cst+Insurance)
09 March 2012
Subhashji
As per my opinion you should issue C Form of Rs.1020/- for OMS Purchases.
You can account for Rs.1230 as Total OMS Purchases or you can book Freight and insurance separeately it will not make any difference
As per my opinion you should issue C Form of Rs.1020/- for OMS Purchases.
You can account for Rs.1230 as Total OMS Purchases or you can book Freight and insurance separeately it will not make any difference
25 August 2012
thank you
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