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what journal entry pass in case of vat refundable and in case of vat payable?

Answer Posted / asha.ricky7

In case of vat payable:
output vat
Toinput vat
To vat payable

In case of vat refundable:
output vat
vat refundable
To input vat

Is This Answer Correct ?    10 Yes 3 No



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