Hi
Can you suggest me how to account the damage vehicle repair exp while insurance claim received by repairer/service centers.
If service center provide invoice to us
Invoice
Repair Charges (Labor service charges) Rs.30000/-
Spare parts cost Rs.20000/-
Total Bills is Rs.50000/-
in this bill service center claimed insurance on our vehicle, then he received claim of Rs. 15000/-
then service center ask to pay Rs 35000/-
how to account in our books
As we know in U.P they have their own portal for filing E way bill that site is com tax.up.nic.in. they do not follow E WAY bill from ewaybill.nic.in. From 1 April E way bill be mandatory in whole India then U.P state will also follow E Way bill from nic.in or they will follow their state Up vat site only.
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Financial statement for loss