CAN I AVAIL INPUT CREDIT ON CPITAL GOODS PURCHASED 1 2 3 1-5-06 Bharat enterprises purchased laser-marking machine at Rs.

1500000+vat@ 4% from Vasudeva & Sons. The tax authorities allowed a tax credit of Rs 30000 to be set of 12 monthly installments. 2-5-06: Make due entry for tax paid on cpl goods. 3-5-06 : Put journal entries for claiming the installments of input credit in cpl goods

HOW ARE INTERSTATE BRANCH TRANSFER ACCOUNTED FOR IN VAT 1 2 3 1-6-06 Bharat enterprises purchased 10 bajaj lamps @ Rs.150 each from PUSAT Ltd and input vat of 12.5% was paid on the items. 2-6-06 Bharat eprs transferred 10 no. of bajaj lamps @ Rs.150 to Bharat eprs Mumbai branch. 3-6-06 : Journal entries for disallowed amt have to be transferd Separate ledger under direct exp. BRANCH TRANFER INWARD 4-6-06 :Transfer 5 Surya lamps at Rs.300 from Bharat eprs Hyderabad branch to bharat eprs. 1 1-7-06 :Bharat eprs received a bill from Radiant Telecom on subcontract Service of Rs.40000/-.TDS deducted on the same day. 2 2-7-06 Payment made on Radiant Telecom after deducting TDS. 3 2-7-06 TDS amount is paid through bank. 4 5-7-06 Pass a journal entry for rent due to Rajmahal eprs amount of Rs.60000.TDS deducted on the same date. 5 6-7-06 Rent paid to Rajmahal eprs after deducting TDS.TDS amount is paid through bank. ADVANCE PAYMENT IN THE CASE OF TDS 8-7-06 Advance payment of Rs.40000/- is made to Sky Wave Telecom service Pvt ltd towards fee for providing technical services. 9-7-06 Sky Wave Telecom service Pvt ltd raise a bill of Rs 10000/TDS is deducted on the same date. 10-7-06 TDs amount is paid through bank. 15-7-06 Advance payment of Rs.80000\- is made to Kiran Technologies Pvt Ltd towards fee through HDFC bank ; this amount is before deduction of Tax. 18-7-06 Kiran Tech gives a bill of Rs.100000\- Tds is deducted.

20-7-06 payment of TDS amount to Govt. through bank 21-7-06 :Balance amount paid to Kiran Tech through bank. SERVICE TAX 1 2 3 4 5 1-8-06 Purchase event mangt services from Total Events.amt Rs.100000 +service tax. 2-8-06 : Paid amt of rs.50000\- to Total Events. 3-8-06 : Sale bill raised on Wind Sytems after providing their consultancy Event mangt amount Rs.400000\+service tax 4-8-06 Received amt of Rs.220000 from Wind Systems aginst the bill. 5-8-06 : Make payment through bank for service tax payable. SERVICE TAX ON RECEIPT OF ADVANCE 1. 18-3-07 Advance amount of Rs. 15000\- received from PQR ltd for providing maintenance service in TV field. 2. 20-3-07 Sales bill raised on PQR ltd. After providing their maintenance services for Rs. 30000\3. 22-3-07 Balance payment received from PQR LTD along with service tax. 4. 25-3-07 CO. received bill from ABC ltd towards telephone service for Rs.10000+service tax. 5. 28-3-07 Payment is made angst bill raised by ABC ltd. 6. 31-3-07 Make payment through HDFC towards service tax payable. THEORY 1. Explain the use of option integrate accounts and inventory in F11 features. 2. How will you connect sale and purchase voucher with inventory? 3. U wants to apply your own numbering style to sales voucher.How will you do that?