Accounts..doubt
Shubham kumar (.) (620 Points)
26 November 2012
what is Duty Drawback? Does it come in trading account? Also, Sale tax come or not?
2 Replies
Vikas Aggarwal
(CA )
(207 Points)
Replied 26 November 2012
Duty drawback is refund of excise duty(in some cases service tax +excise duty +custom duty) paid on raw material used for finished goods which is to be exported
Duty drawback is type of indirect income
Therefore practically this is credited to P&L account not to trading A/C
Q2,According to Accounting standards Sales Tax does not form part of revenue ,Therefore it is not credited to Sales account ,but separately credited to Sales tax payable account,
CFO-HHPL
(Finance Professional)
(33 Points)
Replied 26 November 2012
Hello ,
This is Formulae derived by Ca.Bishwa nath sah for calculating the time-confusing Log or Natural logarithm.Presently , I am teaching SFM/MAFA –(The coaching centre named REAL DESTINATION ACADEMY ,Shakarpur,New delhi).
By Ca.Bishwa Nath Sah
LOG/Ln (X) = [19 TIMES√X MINUS 1]* 227695/524290
Where Log means Logarithm and Ln m...
eans Natural Logarithm.
Where BABA constant Log = 227695
BABA constant Ln =524290
For Example:
Log 12345.6789 = [ 19 TIMES√12345.6789 ]MINUS 1 *227695
=0.0000179694099 *227695
=4.0915 (APRROX.)
NOW WE CAN CALCULATE ANY NUMBER IN THIS WAY .SIMPLE
CFOHimalayaHouse ProfessionaLearning
CA.Bishwa Bishwa Nath
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