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Vat,excise

Others 405 views 1 replies
Please help me to entries in Tally of vat, tds, excise & serice tax.
Replies (1)

entry would b as follows :

abc A/c dr

   to sales 12.5 %

   to vat 12.5%

(this entries can be shown as net basis or gross basis. means u can show vat 12.5 % in current lia and show net basis or or show vat 12.5 % in sales a/c nd show at gross basis)

similar logic can be used in exicse.

for TDS entry can be

abc a/c (debtors)                                       dr     90

tds a/c (current asset or capital a/c)      dr     10

         to income                                                                 100

   


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