Inputvat on puchase and output vat sales entery
This query is : Resolved
30 September 2011
Dear Sir to all,
i wanna do vat entry in our a/c. can i do entry in our a/c plz tell me and tell me with reason.
i wanna do vat entry in our a/c. can i do entry in our a/c plz tell me and tell me with reason.
30 September 2011
When you Purchase:-
Dr COGS/Purchase 10000
Dr Input VAT 100
Cr Vendor 10100
When you sell:-
Dr Customer A/c 10100
Cr Output VAT 100
Cr Sales A/c 10000
Dr COGS/Purchase 10000
Dr Input VAT 100
Cr Vendor 10100
When you sell:-
Dr Customer A/c 10100
Cr Output VAT 100
Cr Sales A/c 10000
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