CA Day celebration 2024 Easy Office
LCI Learning

sales tax set off

This query is : Resolved 

05 July 2008 can we take vat set off more than the laibility of sales tax and show the sales tax laibility as a debit balance in the books of account.

05 July 2008 The portion of unutilized input credit of Vat can be carried frwarded to the subsequent period and avial set-off against the liability of that period.

07 July 2008 ok but is it correct to show the sales tax acount with debit balance in any particular month.


08 July 2008 why sales tax account, open a ledger account un the name of Input VAT and every time the set-off is availed transfer that portion of set-off through a journal voucher.



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




Answer Query