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what journal entry pass in case of vat refundable and in case of vat payable?
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Answer Posted / g.k.gupta
in case vat payable as on 31-3
outputvat dr
To vatpayable
in case vat received by chaque or dd
bank a\c dr
to vat refundable
in case vat not in chaque or dd
it is depend state govt. act and oder pass by dept.of
commercial tax dept.
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