ACCOUNTS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2011
Dear Sir/Madam
My question is that what will be the genroul entry of TDS,VAT,& Service Tax during making genroul.
My question is that what will be the genroul entry of TDS,VAT,& Service Tax during making genroul.
25 May 2012
1. TDS
Expense A/c Dr
To Creditor
To TDS Payable
TDS Payable A/c Dr
To Bank A/c
2. VAT
(a) At the time of purchase
Purchase A/c Dr
Input VAT Credit
To Creditor
(b) At the time of sale
Debtor A/c Dr
To Sales
To Output VAT Payable
(c) At the time of payment
Output VAT Payable A/c Dr
To Input VAT
To Bank
3. Same entries will be passed for service tax.
Expense A/c Dr
To Creditor
To TDS Payable
TDS Payable A/c Dr
To Bank A/c
2. VAT
(a) At the time of purchase
Purchase A/c Dr
Input VAT Credit
To Creditor
(b) At the time of sale
Debtor A/c Dr
To Sales
To Output VAT Payable
(c) At the time of payment
Output VAT Payable A/c Dr
To Input VAT
To Bank
3. Same entries will be passed for service tax.
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