re : accounts

This query is : Resolved

gurru (Querist)
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11 November 2009 we are a properitor firm. we are distributor of petroleum company.now,we are taking distributorship of another company along with current distributorship.now,i want to know whether we have to file differnt sales tax quarterly returns of both the distributorship or just single return.whether we have to open account of two companies for both the distributorship or one company.kindly guide us.

Ram Avtar Singh

Ram Avtar Singh (Expert)
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11 November 2009 No need to any change. account should be done as both are consigner. no need to devide your books of accounts. only agreement required for that.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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11 November 2009 Agree with expert. Since you are distributor and not C & F agent, you can carry on as it is , only maintain clear books of accounts for purchase,sale and all .

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Guest

Guest (Expert)

11 November 2009 Agree with sanjay.