The question is about the input vat and out put vat. His
intention to know when the input and out vat accounts will
be created. But you both answered an assumed question. The
question or answer should be clear and accurate.
hi friends, my answer here is if we purchases a computer
rs25000 and vat rate is 14.5%. then total amount is
rs28625.and now we are going to sell the same computer
rs30000 and output vat is 4350.so the difference between
input vat and output vat is rs34350-rs28625.the very
difference is rs 5725.that amount should have to pay to the
Why Copyrights,patents,goodwill etc.etc. falls under real
account and not nominal or personal account?
I know anything which affect trading & Profit & Loss
accounts are nominal accounts.And the above do not affect
the Trading or P/L accounts but on the other hand they are
intangible and neither can they fall under real accounts as
Real accounts are those that are not personal and they are
Again in another way if we see, Patents, Copyright ,Goodwill
etc. etc. kindoff acts as a representative of a person or a
company like in the same way as a Bank or Company name,so
they can they not fall under Personal Account??