Please tell me under which heads following ledgers should open or create. 1

Please tell me under which heads following ledgers should
open or create.

1. Vat on Sales
2. Vat on Purchases
3. Excise on Sales
4. Excise on Purchases
5. Service Tax Input
6. Service Tax Output

It’s urgent for me.

Question Posted / skiran

14 Answers
68722 Views
Genpact, IMK, MMS, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

Please tell me under which heads following ledgers should open or create. 1. Vat on Sales 2. ..

Answer / m.sujan kumar

Actually all tax items should come under Duties & taxes either it may be receivable or it may be payable. If it is a payable then we will find in balance sheet under duties & taxes head a positive figure, if it is refundable item (that means we have input tax credit) then we will find that in a negative figure.

Is This Answer Correct ?

1 Yes

1 No

Please tell me under which heads following ledgers should open or create. 1. Vat on Sales 2. ..

Answer / mohammed zubair

Hi
Hr sreepada bhagi

I really appretiate that your answers which you have posted
for differnt questions is very good that any other

Your are very cunning

E mail Zubair_glad24@yahoo.com

Is This Answer Correct ?

1 Yes

2 No

Please tell me under which heads following ledgers should open or create. 1. Vat on Sales 2. ..

Answer / b.thirupathi

current assets and current liabilities to be prpare

Is This Answer Correct ?

0 Yes

3 No

Please tell me under which heads following ledgers should open or create. 1. Vat on Sales 2. ..

Answer / gouthami

1.vat on sales under sales a/c
2.vat on purchases under purchases a/c
3.excise on sales under sales a/c
4. excise on purchase under purchase a/c
5. service tax input under purchase a/c
6. service tax output under sales a/c

Is This Answer Correct ?

3 Yes

17 No