Accounts
This query is : Resolved
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
also i wanted to ask you how to enter vat amount in tally in sales - F8
Rupesh Jain
(Expert)
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)
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
cost 8600
+ vat
total to be paid by the company
Rupesh Jain
(Expert)
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
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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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?
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?
26 May 2015
rupesh sir can you help me out with interest calculation. I have 1 doubt. I have posted in interest calculation query
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