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Any body give journal entry for this
PURCHASEA/C DR 500
S.TAX 50.0
SUNDRY CREDITOR 450.00
AND
Which amount i taken in purchase ledger
and which amount i taken in s.Tax ledger
and which amount i taken in sundry creditors ledger
wat are the details i require to maintain with regard to
submitting of s.Tax return
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Answer Posted / jagdish adhav
You had purchased for Rs. 500.
Purchase Amt - 450
S.Tax 50
-------------------
Total - 500 (Sundry Creditor)
=======================================
If, my thinking is correct, then the entry will
Purchase A/c. Dr. 450
S.Tax A/c. Dr. 50
To. Sundry Creditor A/c Cr. 500
(S.tax debited because you are going to claim set off of S. Tax. otherwise total amount will debited to Purchase Account)
| Is This Answer Correct ? | 5 Yes | 0 No |
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