Lalduhpuia Sailo (Admin & Finance Officer) (28 Points)
10 May 2009How do i treat labour charges for civil construction work. Should i make a separate ledger for labour charges or should i enter into the same ledger for construction.
SekharPadala
(Dy. Manager Accounts & Finance)
(36 Points)
Replied 10 May 2009
it is better to create a separate ladger for construction labour charges. it wil helpful to you in caluculation of indirect taxes and cost controlling proceses
ADITYA
(Manager Finance)
(742 Points)
Replied 11 May 2009
hi.......
Labour Charges on civil construction will be finally booked in "Factory Building". However it is better to keep seperate ledger account to do all applicable compliances for TDS, ESIC - if contractor is not registered, Service Tax (the credit of same is available, if it is for Factory Building)
CAclubindia
