Interested to Buy Any Domain ? << Click Here >> for more details...
PLEASE EXPLAIN DEBIT NOTE & CREDIT NOTE?WITH THE FOLLOWING
QUESTION?
1)IF X LTD.SOLD MATERIAL @ RS.112500/-WITH INCLUSIVE VAT @
12.5% TO HIS SUPPLIER(CREDITOR),BUT AFTERWORD THEY FOUND
THAT THE MATERIAL COMES UNDER 5% VAT RATE CATEGORY.SO HOW
THEY ADJUST THEIR LOSS RS.7500/- IN THEIR BOOKS?
2)IF X LTD.SOLD MATERIAL @ RS.112500/-WITH INCLUSIVE VAT @
12.5% TO HIS CUSTOMER(DEBTOR),BUT AFTERWORD THEY FOUND THAT
THE MATERIAL COMES UNDER 5% VAT RATE CATEGORY.SO HOW THEY
ADJUST THEIR LOSS RS.7500/- IN THEIR BOOKS?
- 1 Answers
- 4151 Views
- URC Construction, I also Faced
- E-Mail Answers
Answer / ravi
sales - 112500
inputvat@12.5%=14062
inputvat@5%=5625
=14062-5625 =8437-7500 loss adjusted
937 vat refundable or could be adjusted to subsequent years
sales -112500
outputvat@12.5%= 14062
outputvat@5% = 5625
=14062-5625=8437-7500 loss adjudted
937 vat refundable or could be adjusted to subsequent years
| Is This Answer Correct ? | 5 Yes | 1 No |
how we will prepare n file income tax returns for individuals?explain
Choose the right answer Which of the following is Nominal account 1.Sales 2.Customer 3.Dealesrship Deposit
Expand-------ANCS
Expand ________CAP
What is Deposit Clearing House ?
Expand---------PDCB
What balance will be entered in the cash book?
why did you want to join banking sectors?
different between acconting and elective mathematics
what is mean by credit purchase?
What is considered a healthy profit?
What is the Formula of debt equity ratio? Also Define its importance in accountancy.
Audit 
