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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.
- 14 Answers
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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 |
Answer / mohammed zubair
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| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / b.thirupathi
current assets and current liabilities to be prpare
| Is This Answer Correct ? | 0 Yes | 3 No |
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 |
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