VAT & CST
This query is : Resolved
27 October 2010
DEAR ALL,
WHAT WILL BE JOURNAL ENTRYIN TALLY FOR
VAT INPUT 12.5% =17720
VAT INPUT 5% =820( ON DOMESTIC PURCHASE)
VAT OUTPUT 12.5% =12680
CST 2% =13420 ON ALL SALES
SO THE AFTER ALL ADJUSTMENT CST PAYABLE IS RS 11320.
REGARDS,
HEMENDAR
WHAT WILL BE JOURNAL ENTRYIN TALLY FOR
VAT INPUT 12.5% =17720
VAT INPUT 5% =820( ON DOMESTIC PURCHASE)
VAT OUTPUT 12.5% =12680
CST 2% =13420 ON ALL SALES
SO THE AFTER ALL ADJUSTMENT CST PAYABLE IS RS 11320.
REGARDS,
HEMENDAR
01 November 2010
VAT cannot be adjusted for CST payable
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