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sale of scrap

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(Querist)
28 December 2010 Dear All,


In any manufacturing ltd.company.What is the right way to show the sale of scrap? Whether it should be dedcuted from the purchases of manufacturing A/C or show as sale in manufacturing A/c.

Regards,
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Balakrishnan

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Balakrishnan (Expert)
29 December 2010 The right way is to show as Sales. This is equally valid from Sales Tax point of view also.

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