Please anybody tell what is a entry for Sales Tax & Income
Tax refund received.
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Answer Posted / r.rajesh
Refund for Sales TAx
Cr Input Tax 4% (or) 12.5% - 12000.00
DR bank 12000.00
Refund for InCome Tax
Cr TDS Receiveable 12000
CR Bank 12336.00
CR Interest Recd 336.00
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