MATERIAL USED FOR PERSONAL PUPOSE
This query is : Resolved
29 June 2020
DEAR SIR / MADAM
MY CLIENT IS RUNNING A MANUFACTURING UNIT [ JELLY CRUSHER MACHINE ] HE PURCHASED SOLLING AND PRODUCED JELLY AND SOLD IT. AND HE IS CONSTRUCTING A RESIDENTIAL HOUSE FOR HIS OWN. HE USED SOME QTY OF JELLY FOR PERSONAL USE [ FOR HIS HOUSE CONSTRUCTION ] HOW TO ACCOUNT IT AND HOW TO SHOW IN GST RETURN CAN I RISE SALE BILL FOR MATERIAL USED FOR PERSONAL PURPOSE OR NOT WHERE TO SHOW IN GST RETURN AND HOW TO ACCOUNT FOR INCOME TAX PURPOSE
PL SUGGEST ME
MY CLIENT IS RUNNING A MANUFACTURING UNIT [ JELLY CRUSHER MACHINE ] HE PURCHASED SOLLING AND PRODUCED JELLY AND SOLD IT. AND HE IS CONSTRUCTING A RESIDENTIAL HOUSE FOR HIS OWN. HE USED SOME QTY OF JELLY FOR PERSONAL USE [ FOR HIS HOUSE CONSTRUCTION ] HOW TO ACCOUNT IT AND HOW TO SHOW IN GST RETURN CAN I RISE SALE BILL FOR MATERIAL USED FOR PERSONAL PURPOSE OR NOT WHERE TO SHOW IN GST RETURN AND HOW TO ACCOUNT FOR INCOME TAX PURPOSE
PL SUGGEST ME
30 June 2020
if you avail input of that material then you have to reverse the input of that material and enter in the books of account. drawings for income tax purposes.
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