HOw to pass vat adjustment entry while paying vat return?
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Answer / indira gokul
in tally
in journal we can pass this adjustment entry.
by out put vat a/c dr.
to input vat a/c
to vat payable (current liabilities)
the formula is
ourput vat - inputvat = Vat payable
| Is This Answer Correct ? | 50 Yes | 6 No |
Answer / arnab
debit vat output a/c & credit vat input a/c to the extent
input credit can be taken for the month /period
| Is This Answer Correct ? | 44 Yes | 9 No |
Answer / amir
output vat a/c.......dr
to input vat a/c
to vat payble a/c
| Is This Answer Correct ? | 15 Yes | 0 No |
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