When we have to send any item for Repair Purpose, the problem we face is that, that item idoes not exist in inventory beceuase we must have issued to cost centre when it is orginally put to use.
So first of all we need to create inventory for the same, how such inventory shoud be created ? We are doing 202 movement (crediting the cost centre) and create the inventory.
The problem in this process is that in such case such cost centre gets unnecessory credit for the same. When materials comes after repair then that cost centre agains gets debited so it gets nullified.
However the timing difference shows distorted resuelts. e.g. i have to send machinery worth of Rs.10 lac in Jan-09 and such machinery received back in the month of April-09.- In this case from Jan-09 to March -09 will show credit of Rs.10 Lac What is best business practise in this case ? Further is it requirement for Excise rules to maintain record for Repair item sent to sub-contracotr in books with value also ?
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