Sale value
This query is : Resolved
CA Mahesh Gurjar
(Querist)
11 December 2009
Dear Experts
A Sale of a Company Rs. 110000(including Rs. 10000 of Output vat)
Please tell me in above case how much amount show in Sale a/c
A Purchases of Company Rs. 100000(including Rs. 10000 of Input vat)
Please tell me in above case how much amount show in Purchase a/c and Profit and Loss a/c
and How much amount will debit in Indirect Expense as a expenses
Regards
Mahesh Gurjar
A Sale of a Company Rs. 110000(including Rs. 10000 of Output vat)
Please tell me in above case how much amount show in Sale a/c
A Purchases of Company Rs. 100000(including Rs. 10000 of Input vat)
Please tell me in above case how much amount show in Purchase a/c and Profit and Loss a/c
and How much amount will debit in Indirect Expense as a expenses
Regards
Mahesh Gurjar
C.A.Harish Singh
(Expert)
11 December 2009
Mr. Mahesh u can show the sales at gross value ie including of output vat & debit output vat in ur P&L a/c or u can show sale at net value.
Input Vat included in purchase should be shown in sepratly in B/S as Input Vat Credit as u have to take credit in next month or F.Y..
Input Vat included in purchase should be shown in sepratly in B/S as Input Vat Credit as u have to take credit in next month or F.Y..
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