in miro what is accounting entry along with tax?
Answers were Sorted based on User's Feedback
Answer / kavitha
am sori,
GR/IR clearing account Dr
Cenvat clearing account Dr
VAT receivable account Dr
To Vendor a/c Cr
| Is This Answer Correct ? | 24 Yes | 0 No |
Answer / chintan joshi
MIRO
GR\IR dr
VAT dr
Vendor cr
There are two more entries which is based material valuation
technique (i.e. V or S). If there lies difference between GR
price and Invoice price, entry would be
stock a/d dr/cr
Price diff dr/cr
(Among above entries Price diff will only derive if V the
price indicator.)
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / kavitha
In MIRO, the accounting entry along with tax:
GR/IR clearing account Dr
Cenvat clearing account Dr
VAT clearing account Dr
To Vendor a/c Cr
| Is This Answer Correct ? | 11 Yes | 7 No |
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