Sale of capital goods
This query is : Resolved
30 December 2011
Sir,
we are going to sale one of our capital goods (Machinery). we will sale it against form C through central sale invoice. How the entry will be passed in Tally ERP9.Machinery will be sold in Rs. 16 Lakhs on which CST will be Rs. 32000. Earlier this machine was used as fixed assets.
Plz reply
Thanks in advance
we are going to sale one of our capital goods (Machinery). we will sale it against form C through central sale invoice. How the entry will be passed in Tally ERP9.Machinery will be sold in Rs. 16 Lakhs on which CST will be Rs. 32000. Earlier this machine was used as fixed assets.
Plz reply
Thanks in advance
30 December 2011
BANK -DR RS. 1632000
TO MACHINERY- RS. 1600000
TO CST PAYABLE RS. 32000
2.Depreciation reserve Dr
to machinery
( Amt of depreciation charged from the date of put to use to date of the sale of machinery)
3. Loss on sale of fixed assets- dr
to machinery
0r
Machinery -dr
TO Profit on sale of fixed assets
TO MACHINERY- RS. 1600000
TO CST PAYABLE RS. 32000
2.Depreciation reserve Dr
to machinery
( Amt of depreciation charged from the date of put to use to date of the sale of machinery)
3. Loss on sale of fixed assets- dr
to machinery
0r
Machinery -dr
TO Profit on sale of fixed assets
31 December 2011
but sir in this way how can we issue central sale invoice as for issue a sale invoice there should be a stock item. We are to issue original sale invoice?
31 December 2011
Issue a sale invoice.
31 December 2011
sir, to issue a sale invoice we have to create some stock item, how can i convert a fixed assets in stock item?
31 December 2011
no need to convert the fixed assets into stock.
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
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
