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Pass a entry for purchase a material for Rs. 2000 inclusive
of VAT @ 4% on Rs. 1500 & @12.5% on Rs. 500 with narration
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Answer Posted / rajesh
(IF CASH PURCHASE)
PURCHASE 4% dr. 1440.00
vat 4% dr. 60.00
purchase 12.5% dr. 437.50
vat 12.5% dr. 62.50
To Cash A/c. 2000.00
if credit purchase -just change cash a/c to party name.
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