Journal entry for vat payment
This query is : Resolved
25 March 2014
What will be the journal entry for VAT payable ( Excess Vat to be payable after VAT 240)?
25 March 2014
journal entry for purchase
Purchase a/c Dr
Input vat a/c Dr
to supplier a/c
For sales
Debtor a/c dr
to sale a/c
to output vat a/c
for payment of vat or for creating liability for vat
Output vat a/c dr
to input vat a/c
to cash/vat payable
Purchase a/c Dr
Input vat a/c Dr
to supplier a/c
For sales
Debtor a/c dr
to sale a/c
to output vat a/c
for payment of vat or for creating liability for vat
Output vat a/c dr
to input vat a/c
to cash/vat payable
26 March 2014
Not That one. After conducting VAT 240 Audit. it was found that Rs. 2000 to be paid excess. We are not purchasing anything right now. Can we debit the amount as expenditure?
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 our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Form 121 & TDS deduction
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- Regarding appeal to GSTAT
- Multiple trade mark
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Invoice V/S Goods receipt Note Date
- ITR U for F.Y-2024-2025 From Yesterday
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
