banner_ad

Purchase entry with vat and discount

This query is : Resolved 
Profile Image

Profile Image

(Querist)
30 November 2014 x purchased 10000/- goods from y, he given 1000 as discount, vat rate is 5%. then what is the accounting entry in the books of purchaser?
Profile Image

CA Devanand Jethanandani

Profile Image

CA Devanand Jethanandani (Expert)
30 November 2014
Purchase A/c. Dr. 9000
VAT receivable 5% Dr.450
To Party a/c. (seller) Cr.9450
Profile Image

Rupesh Jain

Profile Image

Rupesh Jain (Expert)
01 December 2014 it is trade discount then vat charge on rs.9000/- if it is otherwise then vat applicable on res. 5000/- and then you deduct the discount.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details