Hi i am manufacturing LED light electronic plastic body mandirs. what is the correct HSN code & GST for the same. Please help
Question
Hi...
I have a query regarding Depreciation...
As per my knowledge depreciation is a one time entry which is passed at the year end..
Eg;- 31/3/17. Dep for P&M A/c....Dr. 50,000
To prov for dep for P&M A/c. 50,000
(Say, 5,00,000@10%)
and so on....
Now tell me...is it ever possible to pass the above mentioned entries every month (i.e on monthly basis) on any kind of provisional basis..!!??
Eg;- 30/4/16. Dep for P&M a/c....Dr. 2,000
To PFD for P&M A/c. 2,000
31/5/16. Dep for P&M a/c....Dr. 2,000
To PFD for P&M a/c. 2,000
(this amount of 2,000 is on provisional basis)
And so on....
Then at year end a reverse entry is passed to adjust the excess or short of dep, as the case may be.. and a final entry is passed with actual amount of Dep.
Would like to confirm whether such type of practice is even acceptable in practical world...??
Hope i got my query understandable..
Thanks in advance..
Accounts Tax GST
July 11, 2017, 12:32 a.m.
Answer
Hi...
I have a query regarding Depreciation...
As per my knowledge depreciation is a one time entry which is passed at the year end..
Eg;- 31/3/17. Dep for P&M A/c....Dr. 50,000
To prov for dep for P&M A/c. 50,000
(Say, 5,00,000@10%)
and so on....
Now tell me...is it ever possible to pass the above mentioned entries every month (i.e on monthly basis) on any kind of provisional basis..!!??
Eg;- 30/4/16. Dep for P&M a/c....Dr. 2,000
To PFD for P&M A/c. 2,000
31/5/16. Dep for P&M a/c....Dr. 2,000
To PFD for P&M a/c. 2,000
(this amount of 2,000 is on provisional basis)
And so on....
Then at year end a reverse entry is passed to adjust the excess or short of dep, as the case may be.. and a final entry is passed with actual amount of Dep.
Would like to confirm whether such type of practice is even acceptable in practical world...??
Hope i got my query understandable..
Thanks in advance..
I have a query regarding Depreciation...
As per my knowledge depreciation is a one time entry which is passed at the year end..
Eg;- 31/3/17. Dep for P&M A/c....Dr. 50,000
To prov for dep for P&M A/c. 50,000
(Say, 5,00,000@10%)
and so on....
Now tell me...is it ever possible to pass the above mentioned entries every month (i.e on monthly basis) on any kind of provisional basis..!!??
Eg;- 30/4/16. Dep for P&M a/c....Dr. 2,000
To PFD for P&M A/c. 2,000
31/5/16. Dep for P&M a/c....Dr. 2,000
To PFD for P&M a/c. 2,000
(this amount of 2,000 is on provisional basis)
And so on....
Then at year end a reverse entry is passed to adjust the excess or short of dep, as the case may be.. and a final entry is passed with actual amount of Dep.
Would like to confirm whether such type of practice is even acceptable in practical world...??
Hope i got my query understandable..
Thanks in advance..
Find the centroid of the triangle whose vertices are (x1, y1), (x2, y2)
and (x3, y3).
Sir I have some problem with GST registration. My firm was a proprietorship firm and subsequently it has been converted to a partnership firm. But in vat resigm I did not change the registration certificate of vat from properties to partnership. Now as the GST is Pan based what shall I do. Now I have registered a newly GST registration in in partnership firm. How I will get input credit of the old stock lying in proprietorship firm. If possible please give me a consultation in my phone number 9437 064 348. I am ready to pay for the consultation fees.
Had saved some theorems of similar triangles of class 10th for off line viewing. Couldn't find them off line
Mr A has purchased a house with rs. 80,00,000/-. The property is co owned with his wife. Mr A wants to pay 45,00,000 and his wife wants to pay 35,00,000 to seller.
Now who is liable to deduct tds @1% u/s 194IA
Mr A or wife?
Where will the income of NRI be assessed ? In India or outside India ?