Answer Posted / jagadeesh.p

Hi this jagadeesh CA,
First we need to classifie VAT as VAT claimable & not claimable
1.VAT paid on procurement of RM with in the state can be claimable against VAT payable on sales as CST
2.VAT paid on procurement of RM from out side state con't be claimable and portion of VAT should be added to the cost of material
3.Entry on purchase of RM
RM a/c DR XXXXX
VAT receivable a/c DR XXX
Party a/c cr xxxxx
4. On sale
Bank a/c DR XXXX
VAT payable a/c xxx
Sales a/c xxxxx
5.IF VAT receivable is more than VAT payable at end of the period then show the balance under assets side bellow the loans& advance and claim for refund otherwise if it is case at the end of quarter then in subsequent quarter we can adjust same with VAT payable and vise ver....

what is documentation in SAP FI? and what is reporting in SAP FI?

2293

---

What is the legacy system migration workbench (lsmw) and when would you use it in your sap fi/co rollout?

1121

---

Is there a SAP Standard Workflow Task that can be assigned to Master Data creation in SAP like GL Master (FS00), Vendor / Customer Master

4458

---

How does the system calculate the activity price? : co- cost center accounting

1062

---

How do you open a new fiscal year in the system?

1106

---

what is credit control management. how to do credit control how to evaluate foreign currency

3911

---

hi my name kali i have 6 month experience in sap fico module how to get job kindly help me

1374

---

What do you mean by depreciation area? : fi- asset accounting

1041

---

What is key figure? : cost center accounting

1135

---

How data flows from co to copa? : co-pa

1223

---

Why is it not possible to post to a customer a/c in a previously closed period?

1188

---

how can we start our career in sap fi implementation

2230

---

what is drilldown reports? tell me about characteristics & key figures.

2094

---

How can I copy a standard table to make my own?

1095

---

what are the challenges you are faced with end users ?

1801

---