29 September 2010
we are manufacture company generally we use to purchase some spare parts to the machines and we book them under Machinery Maintenance(Expenditure) including Tax.
Recently we have purchased some spares from other state under tax CST 2%(Against C form).
Now how i pass entry in the books of accounts as purchase or Expenditure
If it is purchase entry then how i can book expenditure else if it is expenditure entry how i can obtain C Form
29 September 2010
First you book the purchase in store, You can take one Goods recived account also.
1. Dr Store CR GR
2. Dr GR CR Vendor ( then make the payment)
3. Dr Repair ( exp) CR Store.
GR credit entry will always be purchase. From this you can prepare purchase register also. which may be used for VAT return. You can keep the data Tax wise also.
CAclubindia
