Accounting for invoices containing vat and service charges.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 October 2012 Dear All,
I have received a tax invoice containing both vat and service charges than it entry should be created in tally through Journal entry or Purchase entry.

Pls. advice.

Regards,
Amit

CA GAGAN KHARBANDA

CA GAGAN KHARBANDA (Expert)
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01 November 2012 Dear Amit,,

As i understood from your query ..if you have received invoice against any your purchase in which both vat and service charge than enter invoice under purchase voucher by taking vat credit.
and if it is against any expenditure like hotel, food bill then enter under journal or payment voucher.

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Querist : Anonymous

Querist : Anonymous (Querist)

02 November 2012 Thanks a lot sir

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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14 November 2012 The expert is correct but keep a separate account for VAT ass you can adjust VAP paid with VAT collected and you can pay the balance or the excess can be carried forward

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