HERO MOTOCORP LIMITED

RAGON MEIN RAFTAAR

 CONTENT
 TDS

 BILLS PAYABLE

 GST

 FAR

 RECORD TO REPORT
 Tax Deducted at Source (TDS)
The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this
concept, a person who is liable to make payment of specified nature to any other person shall deduct tax at
source and remit the same into the account of the Central Government. 

• Claim of TDS Credit deducted by the employer but not

paid it to the government.

• This is considered as an initial income as the seller

collects it from the buyer for depositing it with the
central government.
TDS Slab Rate FY 2022-2023
TCS Slab Rate
 Bills Payable
Bills payable are physical records of the amount owing for any products or services that a
company buys on credit. The seller of the goods or services is referred to as a vendor.
Because of that, bills payable are sometimes called vendor invoices.
 Bills Payable Process

01 02 03 04 05

Check Invoice as Merger Posted Payment made With approval of

Invoice per (Recording entry Due & Proposal Head Office,
Received DOA(Delegation in books against sent to Head Payment made
of Authority) the Purchase Office after verification
- Rate of Taxes Order)
-Terms as per
agreement etc.
 Goods and Services Tax (GST)

The goods and services tax (GST) is a tax on

goods and services sold domestically for

consumption. The tax is included in the final price

and paid by consumers at point of sale and

passed to the government by the seller. The GST is

a common tax used by the majority of countries

globally.
 About Goods & Services Tax
 GST Rates
I. Two Wheeler @ 28%
II. Components @ 18% / 28%
III. Job Work @ 12% (After 1year , assumed as Sale)

 GST INPUT can be claimed on

I. Goods
II. Services
III. Canteen (under Factories Act)

 GST INPUT cannot be claimed on

I. Renting a Cab
II. Insurance

 RCM- Under RCM, we have to pay tax on behalf of vendor and we will take input of the same. For
e.g.- Legal Services, Import of Services etc.
 Fixed Asset Register (FAR)
A fixed asset register is a detailed list of all fixed assets which are owned by a business.
Its main purpose is to enable an organization to accurately record and maintain both
financial and non-financial information pertaining to each asset and to easily identify and
verify an asset when required.

Installatio Fixed Transfer

CWIP Retire Sale/Scrap
n Asset (Use)
Rate of Depreciation as per Company Act
 RECORD TO REPORT

 Imprest Statement
 Negative Salary
 Vendor Balance
 Co-operative Society
 Provision for Expenses
 Loan Balance
 Bank Balance
 Overheads
 THANK YOU
Submitted to : Ms. Monika Agarwal Submitted by : Sandeep and Vishal