17 May 2013
SIR,IN CASE OF PURCHASES INSTEAD OF FIRSTLY DEBIT TO GOODS IN TRANSIT A/C AND CREDIT TO SUPPLIER A/C AND THEREAFTER DEBIT TO PURCHASE A/C AND CREDIT TO GOODS IN TRANSIT ACCOUNT IF WE DIRECTLY PASS THE ENTRY AS PURCHASE A/C DEBIT AND SUPPLIER A/C CREDIT IS IT ALLOWABLE ? IF NOT PLEASE GUIDE ME ACCORDINGLY
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