INPUT VAT ACCOUNTING

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 November 2010 WE HAVE PURCHASED RAW MATERIAL FROM OUT OF STATE WITHOUT C FORM, SUPPLIER CHARGED US 5% MAHARASHTRA VAT KINDLY ADVICE THAT IN WHICH ACCOUNT I HAVE TO DEBIT 5 % VAT IN TALLY.

CAN I CREATE LEDGER 5% CST INPUT ACCOUNT OR 5% VAT INPUT ACCOUNT ???????

CA Navin Jain

CA Navin Jain (Expert)
Follow

27 November 2010 You no need to open the LEDGER of the either 5% of CST OR 5% of VAT.

Since u can not avail the input credit of CST, so CST will be part of cost of raw matreial