Treatment Of CST
This query is : Resolved
16 January 2010
While purchasing we include cst in cost of item, while selling shall it be included in sales or shall it be bifurcated from sales?
If it shall be bifurcated from sales then , in which group shall it be included, in Duties & Taxes or in any other group?
If it shall be bifurcated from sales then , in which group shall it be included, in Duties & Taxes or in any other group?
16 January 2010
If sale price is Rs. 112 and include 12 rs cst then entry is
Debtor Dr. 112
to Sales Cr 100
To CST payable (Current Liab)cr 12
Debtor Dr. 112
to Sales Cr 100
To CST payable (Current Liab)cr 12
Message likes :
1 times
16 January 2010
Thank you Sir,
am i right, that cst on purchase shall be included in cost of item and there is no need of its bifurcation from sales?
am i right, that cst on purchase shall be included in cost of item and there is no need of its bifurcation from sales?
17 January 2010
Dear,
CST included in purchases need not be bifurcated, as full invoice value is cost of that item.
Cheers!
CST included in purchases need not be bifurcated, as full invoice value is cost of that item.
Cheers!
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?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- 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
- TDS on purchase of value vouchers for employees ?
- 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 ?
Trending Online Classes
CAclubindia
