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What will be general entry for VAT or Sales Tax paid to
government in cash for an Financial year?

Question Posted / payal rao


What will be general entry for VAT or Sales Tax paid to government in cash for an Financial year?..

Answer / nagachandra pattar

There is no need to open Government (Sales Tax Dept)A/c in
your books.
The entry was:
VAT Payble A/c Dr ***
To Cash/Bank A/c ***
(Being Sales Tax paid for xxxmonth-10)

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