INPUT VAT ACCOUNTING
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 November 2010
WE HAVE PURCHASED RAW MATERIAL FROM OUT OF STATE WITHOUT C FORM, SUPPLIER CHARGED US 5% MAHARASHTRA VAT KINDLY ADVICE THAT IN WHICH ACCOUNT I HAVE TO DEBIT 5 % VAT IN TALLY.
CAN I CREATE LEDGER 5% CST INPUT ACCOUNT OR 5% VAT INPUT ACCOUNT ???????
CAN I CREATE LEDGER 5% CST INPUT ACCOUNT OR 5% VAT INPUT ACCOUNT ???????
CA Navin Jain
(Expert)
27 November 2010
You no need to open the LEDGER of the either 5% of CST OR 5% of VAT.
Since u can not avail the input credit of CST, so CST will be part of cost of raw matreial
Since u can not avail the input credit of CST, so CST will be part of cost of raw matreial
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