how to pass entry for VAT return adjustment entry?

Answer Posted / saurabh gureja

when output vat is higher than input then entry will
be: output vat dr.
input vat cr.
vat adjutment a/c cr .
but when input is higher then:
output vat dr.
vat adjustment dr.
input vat cr.

Is This Answer Correct ?    32 Yes 7 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

explain the special provisions for computing profit and gains of retail business

1661


is there any necessity to file TDS to purchase a thing even ater paying vat

1579


I raised a service tax invoice against a client on which i charged service tax and without receiving any sum from client a deposited service tax on good faith but now client refuses to pay sum . so please, tell me what should i do.

1863


WHAT IS THE PORVISION OF INCOME TAX & SELF ASSESSMENT TAX AFTER AUDIT IN PVT LTD CO & LTD CO , PLEASE GIEVE ANSWER IN DETAIL WITH ENTERY TO MY E-MAIL ADDRESSS

1664


why is service tax set off is consider while calculating wct tds

1476






what to in pro

1765


WHEN FORM VAT R-2 USE?

1634


What is the difference between fund flow vs. Cash flow?

624


please let me know how to show the sales to unregisterd dealers in tn ctd new portal and in which annexure to select for filing sales to unregisterd dealers, cash / consumer sales

1372


ie it possible to charge WHT and VAT on one trancaction? if yes,kindly explain the dynamics/working of both taxes

1670


a x company deduct tds against our bills so how i entry this type of transaction in talyy 9.0 ?

3198


how will one calculate TDS when the bill is with service tax (SAY an AMC bill ) and what treatment will be there when it is a rent bill with service tax. is there any rules in income tax as to deduct double taxation?? pls help with rules sir

1541


A Service provided has provided bill amounting rs. 100000 dt. 30/04/2013 & i have paid amount with 30000 Rs. as on 24/5/2013, & 20000 paid on 7/6/2013 & rest of the amount has been paid as on 15/6/2013 then on which amount TDS has been deducted. may it deducted on Bill amount or payment amount? If bill amount then at which date TDS entry should be done ? & if on Payment date then which date. and if i want to compute interest for late payment of TDS then Which date should be consider for interest payment computation. Do the needful for the same.

1499


How can I Return CST Form-I

1255


Who advance tax is the asset for company? What are the accounting entries of advance income tax

1411