What are the journal entries for accounting VAT in SAP
Answers were Sorted based on User's Feedback
Answer / sudharsan
When we make MIRO
GR/IR Clearing A/c Dr
Vat A/c Dr
Supplier Control A/c Cr
Is This Answer Correct ? | 26 Yes | 13 No |
Answer / jagadeesh.p
Hi this jagadeesh CA,
First we need to classifie VAT as VAT claimable & not claimable
1.VAT paid on procurement of RM with in the state can be claimable against VAT payable on sales as CST
2.VAT paid on procurement of RM from out side state con't be claimable and portion of VAT should be added to the cost of material
3.Entry on purchase of RM
RM a/c DR XXXXX
VAT receivable a/c DR XXX
Party a/c cr xxxxx
4. On sale
Bank a/c DR XXXX
VAT payable a/c xxx
Sales a/c xxxxx
5.IF VAT receivable is more than VAT payable at end of the period then show the balance under assets side bellow the loans& advance and claim for refund otherwise if it is case at the end of quarter then in subsequent quarter we can adjust same with VAT payable and vise ver....
Is This Answer Correct ? | 14 Yes | 2 No |
Answer / seetaram.bandla
Hi All,
MIGO: Stock A/c Dr
GR/IR A/c Cr
Posting Excise Invoice
RG23A A/c Dr
Excise payable A/c Cr
Vendor Invoice
Vendor A/c Cr
GR/IR A/c Dr
Excise Payable Dr
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / guest
calculation on base amount
===========================
sales invoice: customer a/c (01) dr.
To sales a/c (50)
calculation on Net amount
===========================
sales invoice: sales a/c (50)
customer a/c (01)
We can do for Purchases also in AP postings
Is This Answer Correct ? | 5 Yes | 5 No |
Answer / noorulla
when we purchase we have to pay vat in f-53.
vendor a/c 10000
to bank a/c 9000
to vat a/c 1000
when we sale to customer,customer has to pay vat inf-28
bank a/c 9000
vat a/c 1000
customer 10000
ok
noorulla
siddavaram.nurulla@yahoo.com
Is This Answer Correct ? | 16 Yes | 20 No |
Answer / vivek
Journal Entry for accounting VAR in SAP for T-Code f-02
Is This Answer Correct ? | 16 Yes | 22 No |
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