How to pass journal entry for vat return entry
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Answer Posted / jayachandran,cavin industries
1.at the time of sales
Debitor a/c DR
VAT payable a/c CR
2.Input VAT Adjustemnt entry
VAT payable a/c DR
Input Vat 4% and 14.5% Cr
3.At tthe time of amount remited to Sales Tax
VAT Payable a/c Dr
Cash / Bank Cr
| Is This Answer Correct ? | 29 Yes | 12 No |
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