Accounting Treatment as to reduction of 2%
This query is : Open
03 May 2011
W.e.f. 01.07.2010 & onwards Input Vat credit has to be reversed @2% By way of Reduction so far OGS Sales against C form is concerned as per Gujarat Vat Act either on Monthly/Quarterly basis depending upon Dealer's Category.
How to be effected the same in Books of Account.
Please reply soon.
How to be effected the same in Books of Account.
Please reply soon.
03 May 2011
Vat reversal a/c (exps.a/c)
To input vat a/c
To input vat a/c
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