dear sir,
what is journal entry for capital goods for company? In vat Capital goods itc claim 3 years. how to create journal entry for tally? pls hepl me
Menu
Journal entry
Replies (1)
Dear srikumar,
Just like normal entry of purchase,you can enter it in tally but incase of vat you have to claim the itc in three installments i.e. 1/3rd of total credit in one installment. but you have to claim the itc in same qtr of next two year.
Ex. if u claim itc on 1st qtr 2012-13 then remaining two installment should be claimed in 1st qtr of 13-14 and 14-15.
Recent Topic
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
- Credit against paud RCM on rent
- Dividend difference in 26AS, AIS, TIS
- 194JB INCOME
- Filing ITR3 where income under section 44AD with L
Related Topics
CAclubindia
