How to pass journal entry for vat return entry
Answers were Sorted based on User's Feedback
Answer / deep nisha
Dr. Output Vat
Cr. Input Vat
Cr. Vat Payable
Dr. Vat Payable
Cr. Bank/Cash A/C
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / marie rose jagolino
a/r
output
sales
purchase
input vat
a/p
output
vat payable
input vat
Is This Answer Correct ? | 1 Yes | 1 No |
Answer / mohd sameer
in purchase case.purchase always debit.and payment by cash
so cash credit.and input vat credit...
purchase a/c dr
To cash/bank
To input vat.
case of sales
cash a/c dr
output vat a/c dr
to sales
Is This Answer Correct ? | 2 Yes | 4 No |
Answer / srinivas
in case of transfer to credit amount (no sales)
vat amount a/c dr
to input vat a/c
Is This Answer Correct ? | 0 Yes | 3 No |
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