CA N.Dhivya Lakshmi (Chartered Accountant) (515 Points)
10 December 2011Hi frnds,
Am badly in need of how to do Vat Cst reconciliation?
How to check in tally? What amount shud i actually take for reconciliation?
Pls guide me friends.
Thankyou
Vikas Aggarwal
(CA )
(207 Points)
Replied 10 December 2011
Its depends how u maintains your accounts in tally
if u maintaning separate a/c in tally like DVat 12.5%,Dvat 5%
then u can check the A/c balances with manually calculated VAT on sales
Examples :Local sales in tally 2000000(Exclusive of VAT) suppose VAT 5%
then tax =2000000*.05=100000
check dvat 5% A/c it must show in credit rs.100000
if the amount is not matching then go to sales A/c and see th sales in columner form(see right on tally window) it will show separate amount of sales and VAT,check whether Dvat has been charged in all sales or not
Same procedures for CST also
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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