Journal entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 February 2012
1.when a customer booking for a car by payinag an advance amount of rs.1000. what is the journal entry?
2.Are sales tax and VAT differentiated each other,if yes how?
2.Are sales tax and VAT differentiated each other,if yes how?
CA. Hari Kishan
(Expert)
11 February 2012
Car co. name (adavance) Dr. Under loans and advances (assets)
TO Cash / Bank. cr.
Sales tax and VAT are same.. the regime upto 2005 was sales tax and later changed to VAT w.e.f 01.04.2005
TO Cash / Bank. cr.
Sales tax and VAT are same.. the regime upto 2005 was sales tax and later changed to VAT w.e.f 01.04.2005
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
