Question { Yahoo, 8029 }

what is FBT & where it is used?

Answer

FBT Means Fringe Benefit Tax.

To clarity follow url of
http://www.dateyvs.com/fringe_benefit_tax.htm

Question { 6825 }

if we are purchase on vat tax and sales tax can do tds?

Answer

what is the meaning of this question.
I can't understand what this guy want to ask.
Please reply for my view Mr.Palani, Mr Rohit Bist and the
guy who has rated the answer as correct.

Question { 21732 }

We purchase goods worth rs. 25000 from shyam co. in credit.
We paid him 20000 and rest we refuse to pay. What is the
journal entry for it. This is not discount received.

Answer

Purchases A/c Dr. 25000
Shyam Co. A/c 25000
(being purchases made)

Shyam Co. A/c Dr. 20000
Bank A/c 20000
(being amount paid through cheque)

For the balance amount we raise a debit note to Shyam Co.
If we take the reason of refusing to pay as "difference in
Rate" the entry is as follows

Shyam Co. A/c Dr. 5000
Rate Difference A/c 5000
(being debit note issued for rate difference)