My firm is a trading & Manuf firm of Turnover 70,00,000.00.I have to pay a VAt Tax.I want to pay Vat on my sales after adjust.of Purchases Vat.Please say whether I should Pass a Journal Entry for 6 month Vat payable say april to Sep or direct to Indirect expenses Ac
Sale vat Dr,(P/L Ac) Purchase vat Cr,(P/L Ac) Vat Payable Cr. (Liablities) We hav to pay VAT Half Yearly Please give Entry in Tally
is above Entry correct. oR
Vat Paid (Indirect Expenses)
Is Vat Grouped in Duties & Taxes Or In P/L Ac Pleas give my Correct entry for Vat Ac
CAclubindia
