19 October 2010
We have manufacturing unit(Fabrication of M.S. Shuttering) in haryana please suggest me the following.
A party ordered us some shuttering & they will provide us raw material. When material arrived we booked the material in purchase, avail cenvat credit & vat. Party also booked the same material in his account. Now they told u will raiesed the job work invoice. what shall we do & what is the proceeger to billing.
21 October 2010
Dear Anand, If your customer provided material to you, how you can book it as purchases. who will pay to the party from whom raw material is purchased, who has valid documents to take cenvat credit. what accounting treatment you will follow. -- i think you have to reverse credit.
CAclubindia
