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What will be general entry for VAT or Sales Tax paid to
government in cash for an Financial year?

Answer Posted / nagachandra pattar

There is no need to open Government (Sales Tax Dept)A/c in
your books.
The entry was:
VAT Payble A/c Dr ***
To Cash/Bank A/c ***
(Being Sales Tax paid for xxxmonth-10)

Is This Answer Correct ?    9 Yes 0 No



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