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You have been asked to ready a bill for services. What information should be contained in the bill?
Ans) Service Provider's Details (i.e) Organization name and address.
Service Receiver's Details (i.e) Organization name and address. Details of the service (i.e) for eg: Advertisement charges/Dying charges Tax (i.e) Service Tax on total chargeable amount and cess or sur-charge on service tax. And if there is any Expenses or abatements incurred by the service receiver less all those things and determine service Tax and the cess for the balance amount.
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Consignor is the person who is the holder of the goods and who distribute the goods to the consignee. Consignee is the person who takes the goods and he just possesses the goods
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What are the implications of applying accounting concepts wrongly?
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