Easy Office
LCI Learning

Regarding for vat on assets

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
03 February 2012 DEAR ALL

PLS TELL ME ACCOUNTING ENTRY FOR VAT ON ASSETS,
Profile Image

CA. Hari Kishan

Profile Image

CA. Hari Kishan (Expert)
03 February 2012 Motor vehicle asset Dr.
VAT input a/c Dr
TO Bank cr.
(Being car purchased and VAT input claimed) - Assuming you are a dealer in car.

for sale of motor vehicle
Bank account Dr.
to VAT out put a/c Cr
to Asset account Cr.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
04 February 2012 i m not car dealer ,then how i m treat vat on car purchase? m i claim vat amount?
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links