Material in Transit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 April 2011
Dear Experts,
My company is residential developers for our construction purpose we purchase martial from different locations as we know FY has closed but some of our material in transit and billing date of this material is also related to FY 10-11 and it will be reach to our site in next 2 days and we know the exact bill value can we consider this bill amount in our books of accounts.
Regards
Ravinder
My company is residential developers for our construction purpose we purchase martial from different locations as we know FY has closed but some of our material in transit and billing date of this material is also related to FY 10-11 and it will be reach to our site in next 2 days and we know the exact bill value can we consider this bill amount in our books of accounts.
Regards
Ravinder
10 April 2011
Yes you can show it as Raw material in transit in balance sheet
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
