Pass a entry for purchase a material for Rs. 2000 inclusive
of VAT @ 4% on Rs. 1500 & @12.5% on Rs. 500 with narration
- 10 Answers
- 9112 Views
- I also Faced
- E-Mail Answers
Answer Posted / avijitsingh
( if Cash Purchase)
Net Purchase 4% dr 1442.40
VAT 4% dr 57.60
Net Purchase 12.5% dr 444.45
Vat 12.5% dr 55.55
to Cash/bank A/c. 2000
(Being cash purchases)
( if credit purchase)
Net Purchase 4% dr 1442.40
VAT 4% dr 57.60
Net Purchase 12.5% dr 444.45
Vat 12.5% dr 55.55
to Party A/c. 2000
( Being ... purchase of material on credit)
Party A/c. dr 2000
to Cash/Bank A/c 2000
(Being paid ch. / cash )
| Is This Answer Correct ? | 6 Yes | 1 No |
Post New Answer View All Answers
for applying way bill for to send the materials from one state to onother state for a part load ( not full exclussive truck load)through transporter,dose it required vehical registration number or only transporter details can do.(as for part load , transporter unable to inform the vehical number in advance).kindly advise.
what are accounting principles
wht do you mean by copmosition of tax
IF I HAVE PAY COMMISSION TO LOCAL AGENT RS-5000 THEN HOW MUCH I WILL DEDUCT TDS & IS PAN CARD REQUIRE
what is the percentage of W.C.T T.D.S to deduct from vendor, and is this includes T.D.S deduction or again T.D.S has to deduct separately?
Please guide me... We are dealing in trading of industrial material. What is the difference between importer, 1st stage dealer, 2nd stage dealer and 3rd stage dealer? Whether all of these above can pass on the excise duty to the end user. Please tell me and thanks in advance.
If forth alphabet is f then what is TDS percentage ?
what is works contract tax? if a contractor made a bill as repairs to machinary 00000000/- service tax 12.36% on 40% on basic value Vat 5% on 60% of the basic value of the bill amount how can i deduct works contract tax? please suggest me?
What is the procedure to take modvat and its form number
What are the streamlined sales and use tax agreement?
what is form requirment for monthly, quartely, and yearly sale return for haryana
WHAT IS THE PROVISION FOR NET PROFIT & LOSS IN PVT LTD CO & LTD CO GIVE ME THE EXAMPLE WITH ENTERY ON MY EMAIL sonidilip87@yahoo.com
Our Company dedduct TDS on the collection charge and claim (rate diff claim, scheme claim, collection charge means , if any party take material directly form our store our company give them frieght charge and deduct tds@10.30%). my question in what category of this type of TDS decution ? is it payment to contractor or what ?
what is the ct-1 sale? if ct-1 bond is misplaced what is the procedure for applying for new bond.
If A manpower supplier bills to a acompany for rs.100000 for pure labour supply what entry will be done in terms of reverse charges.
