when i worked finalisation of a firm during 2006-07under
kerala vat act in 23-9-06 there is a advancesales tax
RS 2170 paid by firm and inthe same month vatpayable is
rS.5201 the advance tax is deducted from vatpayable that is
5201-2170=3031 is the vat payable during the month. what
are the entries passed in computerised accounting during
finalisation in this case please explain
- 1 Answers
- 2723 Views
- I also Faced
- E-Mail Answers
Answer Posted / purshotam rana
vadvance tax
credit rs 2170 to advance tax
debit rs 2170 to vat payable a/c
balance rs.3031 is payable in books
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
What is FBT & Service Tax Remittances?
If a person got gold by wining a lottery and TDS on the gold value was not deducted by the deductor. After getting the gold, the person tranfer the gold to his daughter. After reading the provisions of the Income Tax Act, 1961, you are required to state that who is liable to pay the tax on the value of the gold? and is there any liability of the Deductor towards non-deduction of TDS?
What is the Procedure of Import & Export
Can I use a single way bill for 1 vehicle dispatching material from multiple consigners to a single consignee???
What do you mean by fair rent?
What are the treatment & implications if party doesn't provide C Form in interstate sales transactions & also same if provide C Form.
Pl give the abstract details of Karnataka VAT Payment procedure, rebating, returns filing in connection of manufacture, distributer & retailer.
How to calculate entry tax ??(In karnataka) Pls advice me complete computation details.
What is the Rate of Service tax for Short term accommodation services & Restaurant Services ?
updated rates of sales tax & VAT in Maharashtra
interest paid to bank rs. 15000 in connection with overdraft obtained for paying dividend.
we have received TDS Certificate (Form No 16A) from one company, we have checked online credited but they not credited to us (online credit)..how can i refund that amount. pls send us letter format
What is turnover limit for Auditing of Service Tax, VAT, Income Tax, Provident Fund, P. Tax and WCT? Please mail me at gautam_ch2 @ rediffmail.com or call me at 09831707812.
Does the tax liability of an individual get affected due to his residential status? If yes, explain.
I plan to buy a new flat in Hyderabad which has never been registered before. Area of the flat is 1115 Sq. ft. I intend to know the following things.1.) what should be the amount of registration?.2.) Is there any VAT. If there is VAT what is the percentage?.3.) Is there any service tax. If so, what should be the percentage? as per F.Y 12-13 rule
