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TMI Blogreconcile er1 returns with trial balance/balancesheetX X X X Extracts X X X X X X X X Extracts X X X X ..... reconcile er1 returns with trial balance/balancesheet X X X X Extracts X X X X X X X X Extracts X X X X ..... By Madhukar N Hiregange: The Reply: You may have to prepare an excel template. It may include the following: 1. Value of goods removed but not sold 2. Value of goods sold but not removed [ maybe less] 3. Additions to value not included in sale 4. Value of exempted goods removed 5. Value of goods returned - credit availed under rule 16 6. Value of supplies to EOU/ SEZ/ Exported goods Depend ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing on the type of business a few more adjustments + or - would be there. Reply By Ramakrishnan Seshadri: The Reply: Dear Sir, Not able to understand Regards S.Ramakrishnan Reply By Yatin Bhopi: The Reply: Now days EA-2000 auditors are asking ER-1 sales Vs annual accounts sales and Excise duty paid as per ER-1 Vs annual accounts. There is always difference in ER-1 sales and annual accounts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sales due to various reasons and it varies from business to business and also depend upon accounting grouping in annual accounts. For eg.1. If there is inter unit transfer of goods from unit A to B, ER-1 of unit A will show sales but annual accounts will not reflect this amount as a sales 2. If there is transfer of goods to depot the value of goods will reflect in ER-1 sales but same will not con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sider as a sale in annual accounts till its actual sale from depot. (you also have to consider sale from opening stock at depot) 3. Value of sale of scrap will reflect in ER-1 but same will be reflected in annual accounts in head "Other Income". 4. Trading sale is reflected in annual accounts but not in ER-1 5. Credit notes issue for discounts or rejection will not reflect in ER-1 but wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll in annual accounts etc.
As a said it is depend upon business to business, you have to consider those transaction which are not reflected in 'sales' in annual accounts but in ER-1 vise-a-varsa and also grouping of various sales.
Reply By Naveed S:
The Reply:
Yes, very well answered.. X X X X Extracts X X X X X X X X Extracts X X X X
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