Pass a entry for purchase a material for Rs. 2000 inclusive
of VAT @ 4% on Rs. 1500 & @12.5% on Rs. 500 with narration
Answer Posted / hemant dubey
in the case of inclusive vat
Purchases a/c 1442
Vat @4% 58
Purchases a/c 444
Vat@12.5% 56
To Cash/Party A/c
( being item of 1500 hundred purchases on 4% vat and 500
item purchases on the vat of 12.5 % )
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
We don't have PT, s.tax registration. Our firm is 7 years old. If we want to register, what should we do? Any body can help.
what was the rate of duty i have to pay if i want to import 1) lubricants(engine oil, etc) 2) grease 3) v-belts(rubber belts used in machines, cars, etc)
service tax
If anybody have knowledge about opening for the post of accountant(for Gurgaon/Delhi) kindly mail me verma_moti@yahoo.co.in. I am handling accounting sales tax/vat,Excise,service Tax,Tds and MIS.
AS PER VAT AUDIT WE HAVE REFUND OF RS.25000/- ON PURCHASE OF FIXED ASSETS WHICH WE DID NOT CLAIM LAST YEAR, NOW WHAT ENTRY SHOULD WE PASS IN BOOK. ITS URGENT
Define deferred tax liability? What items come under deferred tax liability?
calculation of Tds on subcontractor
How much is the tax & surcharge % against d-1 form. on cement,steel,electrical item,RMC,
What are the streamlined sales and use tax agreement?
what should be the research and methodology of business taxation?
if the goods are purchased against H Form, is there any specified time limit winthin which they should be exported?; if yes then wat is that limit?
if a person is investing rs.100 per month for 11 months of a year,how much ammount of annuity he will be paid at the end of year?
My Total CTC is 12500(not gross salary), i am living in Mysore(non-metropoliton city) what will be the take home salary after deduction? thanks in advance.
IF I RECD ANY BILL TOWARDS PRINTING OF FORMS, VOUCHERS AND ON SAME VAT IS CHARGED 5%, IS TDS IS ALSO APPLICABLE FOR THE SAME.
What is supporting documents enclosed & must be required to Submit of quarterly & Yearly Sale Tax Return (Haryana)