Purchase Entry
Prashant Rawat (Accounts Trainee) (61 Points)
29 January 2020
what will be entry of purchase tv for personal use by owner in tally and under which voucher ?
Prashant Rawat (Accounts Trainee) (61 Points)
29 January 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14629 Points)
Replied 29 January 2020
1) Is purchase Invoice is in the name of the Company ?.
Prashant Rawat
(Accounts Trainee)
(61 Points)
Replied 29 January 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14629 Points)
Replied 29 January 2020
you have to capitalize because Invoice is in the name of Company , and Entry will be
Television A/c Dr
Input CGST A/c Dr
Input SGST A/c Dr
To Sundry Creditors A/c Cr
( Being purchase of T. V ,Invoice No---- Dated ---- )
Note - You have to reverse the Input Tax credit under rule 43 of the CGST rules 2017 ,if you taken earlier . Also Company television ,which is being used for personal purpose ,in this regard you have to take opinion of Company Auditor .
RAJA P M
("Do the Right Thing...!!!")
(128068 Points)
Replied 29 January 2020
Kapadia Pravin
(17259 Points)
Replied 29 January 2020
prasad Nilugal
(3914 Points)
Replied 29 January 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14629 Points)
Replied 29 January 2020
Purchase Invoice is in the name of Company not in the name of Sole proprietor as replied above My Mr prashant (quietest )
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
