Tax matters

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 October 2014 Dear Sir,

we are importing wood from Ghana to Chennai India, our company is registered with Hyderabad-Telaghana. we wants to sell the wood in Chennai in chennai party.
we wants collect the CST or VAT from the party.

if we sell the material in Chennai in Chennai Customer how to show the our books.

please give me a suggestion.

Anand

Anand (Expert)
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20 October 2014 U Have to collect VAT for local I.e. within state sell..
When u sell d goods @ say 4% VAT
ENTRY would be
Party account Dr. 104
To vat payable. 4
To sales. 100