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?
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
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Minimum tax payable to file Updated return
- Applicability of GST on Salary Reimbursement Component
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Dep. as per companies act
- Change Of Karta In Case of Death
- UDIN ISSUE
- TDS on purchase of under construction property from a reseller
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
Quick Links
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
22 September 2026
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
CCI
Pro
CAclubindia
