Vat

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riddhi

riddhi (Querist)
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15 May 2015 how to enter vat in sales invoice?

CA Neelam Maheshwari

CA Neelam Maheshwari (Expert)
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15 May 2015 Charge vat on gross amount.
For eg:
Material description Amount
Material A 5000
Material B 5000
Toatl 10000
VAT(rate depends on materail
or state)
assume 5% 500

Total amount 10500.

Party name Dr. 10500
To Sales 10000
To Output Vat 5% 500

riddhi

riddhi (Querist)
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15 May 2015 yea but i entered in F8
name of item qnty rate disc amount

so how to put vat in this?

should i book it this way or the way you said?

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CA Neelam Maheshwari

CA Neelam Maheshwari (Expert)
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15 May 2015 Name of item Qty * Rate = Gross amount
And then charge VAT on Gross amount.