Pass a entry for purchase a material for Rs. 2000 inclusive
of VAT @ 4% on Rs. 1500 & @12.5% on Rs. 500 with narration
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Answer Posted / p. navaneetha krishnan
(IF CASH / CHEQUE PURCHASE)
4% Vat Purchase A/c. Dr. 1442.00
12.50% Vat Purchase A/c. Dr. 444.00
Vat Input 4.00 % A/c Dr. 58.00
Vat Input 12.50 % A/c Dr. 444.00
Cash / Bank Account Cr. 20000.00
(Being Cash / Cheque Purchase of Raw Materials from X
against Inv. No & Inv. Dt.)
(IF CREDIT PURCHASE)
4% Vat Purchase A/c. Dr. 1442.00
12.50% Vat Purchase A/c. Dr. 444.00
Vat Input 4.00 % A/c Dr. 58.00
Vat Input 12.50 % A/c Dr. 444.00
Supplier Account Cr. 20000.00
(Being Credit PUrchase of Raw Materials from X against Inv.
No & Inv. Dt.)
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