Q's abt 57F4 Challan
Dear All ,
Pl guide for the following :
1) If i am sending RM to vendor and receiving SFG , scrap is generated at vendor end , if i am not posting that scarp By 542 mvmt from vendor to our Plant , But total SFG Qty i received (Scarp is cming later ) can i reconsile my challan ?
2) In J1IFR , in Annexure IV one column stating Vendor scrap generated , Need i suppose to reconsile the same or is it for information purpose ?
3) what is the time limit for Challan reconsilation (90 days ?Or i can have as per our settings ) ?
4) If i am not making reconsilation of the 57F4 challan , whr is it affecting ? what is the impact in Accounts ? whr i need to see the same ?
Replay for all Question will be aapreciated .
Answer for your questions -
1) You can reconcile the challan number of times. Suppose, your material is coming in lots, then you can reconcile the challan for every material document. After you receive full quantity of SFG, then also your challan will not be fully reconcilled, because some qty is wasted in scrap. When you bring the scrap back to your plant with mvt 542, you can reconcile the challan with this document & after fully reconciling you can complete.
2) The vendor scrap generated column is for information purpose only.
3) The time limit for challan reconcilation is 180 days, for which you will have to maintain the settings in your system. (I do not exactly remember the settings).
4) Until & unless you reconcile the challan, the same can not be completed. If the challan is not completed within the specified time limit, then you will have to repay the excise applicable on the RM sent to the sub-contractor.