15 October 2013
For vat on Purchase:- Purchase A/c Dr......... Vat Input Dr............ To creditor.................................. For Vat on Sale:- Debtor Dr......................... To Sales.................................... To Vat output................................ For vat adjustment:- Vat Output............................... To Vat Input................................. To Vat Payable.............................. For payment of VAT:- Vat Payable Dr........................... To Cash/Bank..............................
15 October 2013
For service tax on input services:- Expenses Dr.............................. Service tax Input......................... To Vendor.................................... Above entry to be made only if input can be claimed against output services. Otherwise service tax amount also to be treated as expenditure. For service tax on Output Services:- Revene Dr........................... To Vendor................................ To Service tax output...................... At the time of adjustment:- Service tax Output Dr................... To Service tax Input....................... To Service tax Payable At the time of payment:- Service tax Payable Dr................... To
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