Calculation
This query is : Resolved
19 October 2009
Dear sir/s,
I want to Know When Tax Paid on Purchase of 1000/- for example. and takes from sales rs.800/- so diff. of 200/- is credit
My query is that rs. 200/- where we have to take in Tax or in Additional tax Credit?
or take Consolidate.
Thanks in advance
I want to Know When Tax Paid on Purchase of 1000/- for example. and takes from sales rs.800/- so diff. of 200/- is credit
My query is that rs. 200/- where we have to take in Tax or in Additional tax Credit?
or take Consolidate.
Thanks in advance
20 October 2009
The correct Journal entry is :
Purchse of X Dr 800
Input Vat Dr 200
To Sundry Creditor 1000
Purchse of X Dr 800
Input Vat Dr 200
To Sundry Creditor 1000
20 October 2009
Dear Murtaza,
It seems that you mean your input tax on purchaes is 1000 and output tax on sales is 800.
If I am correct that unadjusted input credit of Rs 200 can be adjusted against future sale or can be claimed as refund if there is no further sale.
It seems that you mean your input tax on purchaes is 1000 and output tax on sales is 800.
If I am correct that unadjusted input credit of Rs 200 can be adjusted against future sale or can be claimed as refund if there is no further sale.
21 October 2009
Sanjay Mukherjee has given the right way of calculation
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Payment of Stamp Duty and registartion of documents
- Confused regarding applicability of books of accounts and audit
- Taxation under the head Salaries
- TDS DEDUCTED ON PAN OF DECEASED FOR INCOME EARNED POST DEATH
- ITR 3 TO ITR 4
- TDS on property 26QB Difference between Amount paid/credited currently(B) and Stamp Duty Value
- ENUM VALUE
- RECEIPT OF TRAINING FEES FROM FOREIGN STUDENT
- Disclosure in DPT-3
- Ltcg-20.06.2025
- Worng payment of TCS on sale of goods how to get refund the same
- REGARDING AMENDMENT TO BE MADE IN TURNOVER AND PURCHASE FIGURES WRONGLY MADE IN MONTHLY VAT RETURN
- GST Returns not filled under composition scheme
- Loan to Foreign Holding Company by its Indian Subsidary
- Format of Balance Sheet and Profit & loss Account of proprietorship business
- Reversal of Custom duty as per para 6.08 FTP 2023 for DTA sales done by EOU unit
- GST Reverse charge Accounting
- NOTICE DRC01 FOR F.Y. 2018/2019 BY ENFORCEMENT DEPARTMENT DRC01 FOR PENALTY(122)(1)(iii)
- Rodtep Script generate
- Last 3 years GSTR 4 not filed compulsary
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
