if customer order a specific goods like (optical glasses, advertising banner ,hoarding ) and after completion of manufacturing of good he doesn't buy it so what are the accounting treatment for it ??
Menu
Loss on sale of inventories
Replies (2)
All the products will remain in Stock , sale it to some other customer , If it becomes useless then sale it as Scrap .
pass entry in the books
Trader Debtors A/c Dr
To Scrap Sale A/c Cr
To CGST A/c Cr
To SGST A/c Cr
( Scrap sale )
This output gst gets adjusted input gst.
Recent Threads
- Revised Income tax return karna padega kya
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
Related Threads
CAclubindia
