how to pass year ending entries for VAT treatment?

Answer Posted / ankit soni

its very simple
output vat-input vat =vat payable
out put vat dR
input vat cR
vat payable cr

Is This Answer Correct ?    0 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Explain financial accounting. What are its characteristic features?

759


What is Bank Reconciliation Statement? How to calliculate in tally erp9.0?

2080


Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass journal entry in the necessary books of accounts?

6952


What is the marginal cost formula?

719


how to calculate the rate of hard ,soft and very very hard rock rate of cubic meter

1197






Do you know what are trade bills?

1058


What is the purpose of financial statements?

707


what is the defination of mat n calculation of mat... with example this is applicable in company or firm, pl. discribe me.....thanx ashok

1768


in what circumstances it is mandatory to calculate the goodwill.

1372


Types of errors in account

1201


we had company we provide work others they deducted tds how to pass entries in my company please tell me

2930


Can you tell me entry tax will be applicable on Spectacles purchase from u s a  

1546


If the company acquires equipment prior to incorporation what are the accounting entries?

1259


What will be a entry for TDS deducted on Salaries, Directors Remuneration and Rent.

34379


salary payable deduct tds entry

1209