Vat treatment in tally

This query is : Resolved 

19 July 2014 how to feed vat on sales and purchase entries in tally9.

19 July 2014 1. create a ledger of VAT under duty & taxes
2. On sale & purchase entry, mention the amount of vat under VAT

19 July 2014 On purchase show the vat charged in the invoice as Input VAT. and at the time of sale show in output VAT. At the end of the month u will come to know the difference balanced between input and output VAT as VAT payable.

Enter both Input and output VAT under Duties and taxes.

Enter the purchase and sales voucher in invoice mode.


19 July 2014 Create 3 ledgers under duties & taxes:-
1.Vat Output.
2.Vat Input.
3.Vat Payable.
Purchase entry:-
Purchase Dr..........................
Vat Input Dr.........................
To vendor..................................
Sale entry:-
Vendor Dr..................
To Sales...................................
To Vat Output...............................
At the time of payment of Vat:-
Vat output Dr........................
To Vat Input...........................
To Vat Payable.........................

Vat Payable Dr..........................
To Bank.................................

20 July 2014 Just click on help menu in software any serch with relevent keyword and then you can solve your all problems herself. It's just like a google.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries