entry would b as follows :
abc A/c dr
to sales 12.5 %
to vat 12.5%
(this entries can be shown as net basis or gross basis. means u can show vat 12.5 % in current lia and show net basis or or show vat 12.5 % in sales a/c nd show at gross basis)
similar logic can be used in exicse.
for TDS entry can be
abc a/c (debtors) dr 90
tds a/c (current asset or capital a/c) dr 10
to income 100
CAclubindia
