VAT Adjustment entry in tally
PALAK (student) (58 Points)
17 May 20171. to adjust VAT paid against sales invoice as the same is not charged in bill Bt VAT has been paid as per return.
In have open an account in Indirect expenses as ..VAT Expenses and an account in Current Liability under duties and taxes ...as output vat and paased entries as .... VAT EXPENSES DR.
TO VAT OUTPUT
and
VAT OUTPUT DR.
TO VAT PAYABLE
is this treatment correct ?