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How to pass journal entry for vat return entry
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Answer / anju
OUTPUT A/C Dr.
TO INPUT A/C
TO VAT PAYABLE
VAT PAYABLE DR.
TO BANK/CASH A/C
| Is This Answer Correct ? | 124 Yes | 14 No |
Answer / rahul sharma
1. at the time of Purchase
Purchase A/c Dr.10
To VAT input A/C Cr.10
2. at the time of Sale
VAT output A/C Dr.15
To Sales A/C Cr.15
3. Adjustment Entry
VAT output A/C Dr.15
To VAT input A/C Cr.10
To VAT Payable A/C Cr.05
4. for payment of TAX
VAT Payable A/C Dr.05
To Cash/Bank A/C Cr.05
# if input is excess then output then tax is refundable
| Is This Answer Correct ? | 68 Yes | 17 No |
Answer / balaji
debit party account and credit goes to vat account
Purchase a/c dr
To Vat Purchase A/c
| Is This Answer Correct ? | 97 Yes | 48 No |
Answer / jayachandran,cavin industries
1.at the time of sales
Debitor a/c DR
VAT payable a/c CR
2.Input VAT Adjustemnt entry
VAT payable a/c DR
Input Vat 4% and 14.5% Cr
3.At tthe time of amount remited to Sales Tax
VAT Payable a/c Dr
Cash / Bank Cr
| Is This Answer Correct ? | 29 Yes | 12 No |
Answer / naveen kumar
Dr. Output A/C
Cr. Input Vat
Cr. Vat Payable
Dr. Vat Payable
Cr. Bank/ Cash A/C
| Is This Answer Correct ? | 3 Yes | 0 No |
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Audit 
