Transffer a moter cycle to fixed assests
Querist : Anonymous
AND WHEN I PURCHASE A TWO WHEELER THEM I PASSED ACCOUNTING ENTRY AS
PURCHASE 12.5% DR
INPUT VAT @ 12.5% DR
ADD INPUT VAT @ 2% DR
TO XYZ
WHAT ENTRY WILL I DO WHEN I TRANSFER 1 NO OF MOTOR CYCLE TO FIXED ASSETS.
WILL I CHARGED VAT 12.5% + SAT 2% ON TRANSFERRED GOODS.
Querist : Anonymous
Now how can i adj vat
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