Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / rajiv sabharwal
VAT means Value Added Tax. Presently VAT in Delhi is 4%. VAT
is levied on Sales of Commercial goods by registered dealers
(dealers registered with Govt. Authorities)at the time sales.
The calculation of VAT is as simple as of Sales Tax. If you
are charging 4% on 1000 Rs. goods then the VAT is 40 Rs.
But at the time of depositing the collected VAT to
authorities we can claim rebate against the INPUT VAT paid
at the time of purchasing goods (only on local purchase and
not the central purchase).
The entry would be :-
4% VAT A/c -- Dr.
To 4% Input VAT
To VAT Payable A/c
| Is This Answer Correct ? | 18 Yes | 2 No |
Post New Answer View All Answers
fridge was capital or revenue?
what is Accounting Standers?
What are events occuring after the balancesheet date?
what are the different kinds of cash books
While we are bringing our machinery items to factory through a vehicle from other state to Andhra pradesh, is this correct to send our own state way bill along with the other state way bill.
Meaning of portfolio management?
What is the Accounts Payable & Accounts Receivable ?
please give the sbi bank clerk exam paper model in last five years?
plz tell me short cut method in maths for clerck post in bank
what do you mean by accounting?Explain the various concepts of accounting and the need for having accounting standards?
fill in the Blanks Share Holders in Company have _____________Liability
WHAT IS DIFFERED INCOME TAX AND WHERE IT SHOWS IN BALANCE SHEET?
How Are The Balance Sheet And Income Statement Connected?
What is Inventory Control?
why you would like to work for the our(AIRLINE) Group ???
