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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.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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.

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