Central purchase entry
This query is : Resolved
27 July 2011
1. what is the central purchase entry in accounts.
2. how it is settle in sales tax? if u r purchase from another state with local rate (5%) how it will calculated.
2. how it is settle in sales tax? if u r purchase from another state with local rate (5%) how it will calculated.
28 July 2011
1. Central purchase A/c. Dr.
CST A/c Dr.
To S.Creditor / Cash A/c.
2. In VAT no credit is available for CST paid to other state. In tally you can pass above entry but whole amount will be showed as Central purchase in P&L A/c.
1. Central purchase A/c. Dr.
CST A/c Dr.
To S.Creditor / Cash A/c.
2. In VAT no credit is available for CST paid to other state. In tally you can pass above entry but whole amount will be showed as Central purchase in P&L A/c.
28 July 2011
Thanks some much. If we paid the same at higher rate 5% will will be treatment for it
28 July 2011
% of VAt on item is vary state to state, Items under 5% VAT in Delhi schedule may be @ 12.5 % in Haryana. so % of Vat is not important in Central Purchase, Important is whether you are taking any benefit of Concessional form like 'C' form or EI/EII etc.
29 July 2011
Thanks sir,
I have one query is ,
1. what's the last date for deposit of vat and what's the last date of sales tax return.
2. when we will deposit cheque in bank for DVAT what will the beneficiary name in cheque.
3. How it is different from monthly, quarterly,half year return.
I have one query is ,
1. what's the last date for deposit of vat and what's the last date of sales tax return.
2. when we will deposit cheque in bank for DVAT what will the beneficiary name in cheque.
3. How it is different from monthly, quarterly,half year return.
29 July 2011
1. the net tax of a dealer shall be paid within twenty-eight days of the conclusion of the dealers tax period in DVAT.
2. It is vary Bank to Bank, most of Banks accepts as "Your Self A/c. Sales Tax (Delhi Value Added Tax)"
3. In all casess Sr. no. 1 & 2 is applicable.
2. It is vary Bank to Bank, most of Banks accepts as "Your Self A/c. Sales Tax (Delhi Value Added Tax)"
3. In all casess Sr. no. 1 & 2 is applicable.
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