Respected Sir

Can i issue credit note of Freight .

Dear Sir,

we are manufecturer of electric capacitors in U.P and we purchases the local U P & other state then our Purchasing bill Date 25.03.2015 and received the materials in 8 april 2015 then we entry in march return or april return

Dear Experts need ur advise on the folloqing,. If a company's net profit crosses Rs 5 crore in F.y.14-15 then the provisions relating to CSR is applicable from F.Y.14-15 OR From F.y.15-16 and whether is it necessary to provide CSR exp of 2% in F.Y.14-15. Thanks

A company sends its cars to dealers on sale or return basis.All such transactions are however treated like actual sales and are passed through the sales day book. just before the end of the year two cars which had cost Rs 55000 each have been sent on sales or return and have been debited to customers at Rs 75000 each, cost of goods lying with the customers will be? a) 110000 b)55000 c) 75000 d) None

If our purchase vat is more than sales vat then how to make entry in tally if our sales tax payable negative.

As per AS-3 A Co whose turnover exceeds Rs.50Cr has to prepare Cash Flow Statement.

Now a Company's Gross Turnover is Rs.51Cr but Excluding Service Tax it comes to Rs.49Cr.
Does this Co has to prepare a Cash Flow Statement now??

WE HAVE PURCHASED SOME PAINT AND USED THAT PAINT IN BODY SHOP IN CAR REPAIRING . SO HOW WE WILL DO THIER PURCHASE ENTRY AS CONSUMABLE AND AFTER THAT HOW TO ADJUST IN BOOKS OF A/C AT END OF YEAR

Sir, why we include full amount of direct expenses like carriage inwards and wages etc. in COST OF GOODS SOLD. My point is that these expenses should be proportionately distributed among COST OF GOODS SOLD and CLOSING STOCK.

Thanks in anticipation.

Do we need to pass 3 entries for refund?

1 . at the time of filing the return which we calculate and
2 . at the time of receipt
3. when less refund is received or no refund is received so to reverse it from current asset?

IT Provision ( S.A.Tax) for P.Y. 2013-14 is paid in the current year so i passed the following entry

S.A.Tax ( Current Asset)
To Bank ( Current Asset)

but then while making the provision the entry passed was
p& l
to IT Provision ( Provisions)
so how will this IT Provision get reversed?

Also the advance tax paid of P.Y. is carried forward in the current year so i just have to check the current transactions in it?
The Refund of p.y. are showing in the current assets so how to reverse it?