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vivek verma

vivek verma (Querist)
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25 May 2012 purchase 25000 + VAT paid 5000

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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25 May 2012 what you are asking for purchase entry for purchasing product with tax or sett off entry for calculation of carry forward or payable vat

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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25 May 2012 If you are registered dealer and claiming set off then-

Purchase A/c(P&L A/c) Dr 25000
Input Vat Receivable A/c Dr (B/S)5000
To Sundry Crditors 30000
If no set off then-
Purchase A/c Dr 30000
To Sundry Creditors 30000

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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25 May 2012 agree with expert

now purchase entry is done but if you are also asking for sett off entry then it will be as below

output vat dr
to input vat
to vat payable

in case of input is less then output

vat payable dr
to bank a/a
vat paid

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