23 April 2010
Actual its is queri of vat and excise. In vat and central Sales Tax at the end of year,as per accounting standards when we actual material received then only we can enter tranasaction in books and we can avail cenvat credit asper excise rules but problem is that in Central Sales Tax we have to issue C'form and other form by considering bill date. Eventhough if we enter bill as per bill date and for stock purpose if show stock in transit then issue is that can we do so for excise only means will avail credit in april but bill in march please guide me in this also consider balance sheet effects -duties tax account cenvat-currentasset account.
CAclubindia
