Accounts

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riddhi (Querist)
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26 May 2015 company ABC has sold 1 attendance machine to company XYZ at cost and both the companies are in mumbai so do we need to charge VAT on the cost? and can you help me out with its invoice?

also i wanted to ask you how to enter vat amount in tally in sales - F8

Rupesh Jain

Rupesh Jain (Expert)
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26 May 2015 you have to bill as per maha vat rate and sale the goods. and vat amount will categories under duties & taxes (liability)

riddhi

riddhi (Querist)
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26 May 2015 so vat will be on the cost? I am confused with 4% & 12.5% . can you help me please.

cost 8600
+ vat
total to be paid by the company

riddhi

riddhi (Querist)
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26 May 2015 also can you tell me how to enter vat in tally in sales - f8

riddhi

riddhi (Querist)
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26 May 2015 also can you tell me how to enter vat in tally in sales - f8

riddhi

riddhi (Querist)
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26 May 2015 also can you tell me how to enter vat in tally in sales - f8

Rupesh Jain

Rupesh Jain (Expert)
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26 May 2015 YOU HAVE TO MAKE INVOCIE IN F8

THEN OPEN LEDGER
VAT PAYABLE A/C
UNDER DUTIES & TAXES

WHEN YOU MAKE INVOICE ENTRY IN TALLY THEN NO ANOTHER ENTRY REQUIRED IN TALLY

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riddhi

riddhi (Querist)
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26 May 2015 vat rate chart is showing electronics as 4% so will attendance device also come under that?

a company who sold the machine is not liable for any indirect tax. it is not applicable so still it has to charge vat on the device sold?