Is Vat applicable on Fertilizer? Plz reply ASAP
Abdul Rauf (Accounts Practicener) (76 Points)
22 December 2016Is Vat applicable on Fertilizer? Plz reply ASAP
Swati
(EXECUTIVE-GST)
(299 Points)
Replied 22 December 2016
Rate:
ZERO
Click on this link for the current and historic VAT rates.
Remarks:
Zero rate applies to fertiliser, regulated as such by the State, provided such fertiliser is supplied in units of not less than 10 kilos. Otherwise, the Standard rate applies.
Value-Added Tax Consolidation Act 2010 (VATCA 2010) Ref:
Section: 46(1)(b) Schedule: 2 Paragraph: 12(1), 12(2)
Abdul Rauf
(Accounts Practicener)
(76 Points)
Replied 24 December 2016
an invoice received from HR consultancy for emplyee hire. how this entry pass in tally and plz also mention the voucher type and sub ledger group.
Swati
(EXECUTIVE-GST)
(299 Points)
Replied 24 December 2016
Recruitment agency charges a/c dr
To hr consultany(IF NOT PAID)/ Bank a/c(IF PAID)
(BEING RECRUITMENT AGENCY SERVICES RECEIVED AND PAYMENT MADE)
Abdul Rauf
(Accounts Practicener)
(76 Points)
Replied 28 December 2016
Recruitment agency would be creditor or show as indirect expense?