Used cars
Querist : Anonymous
purchase of used car Rs: 1,00,000/- from raju including vat
sale of used car to krishna Rs: 1,10,000/- including vat.
we raised entries as per
purchase of used car DR Rs:87336.25
Input vat a/c DR Rs: 12663.75
To Raju a/c Rs:100000/-
(purchase of used car santro)
sale entry:
krishna a/c Dr Rs: 110000/-
To used car sale a/c 90069.89
To out put vat a/c 13930/-
(used car sale to krishna - santro)
vat paid as per output vat - input vat : 13930- 12663.75 : 1266.25/-
vat payable value : 1266.25
pl give entries in gst regime with above examples. we purchase car from raju. he was not registered in gst.
Querist : Anonymous
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