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Book entry in accounts.

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(Querist)
20 November 2011 How to record vat component of Expenses(indirect) and fixed assets in books of accounts?
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CA SUMiT PATWARi

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CA SUMiT PATWARi (Expert)
20 November 2011 for expenses, book it under that expenses head only.
for Fixed assets, if credit is eligible, debit it to VAI Input account. And if not eligible, capitalise the vat amount and debit to that fixed asset account only.

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