About vat

Mahavat 255 views 4 replies

Is Vat applicable on Fertilizer? Plz reply ASAP

Replies (4)

FERTILISER (Fertilisers, feeding stuffs, certain seeds, etc.)

Rate:

ZERO


Click on this link for the current and historic VAT rates.

Remarks:

Zero rate applies to fertiliser, regulated as such by the State, provided such fertiliser is supplied in units of not less than 10 kilos. Otherwise, the Standard rate applies.

Value-Added Tax Consolidation Act 2010 (VATCA 2010) Ref:

Section: 46(1)(b) Schedule: 2 Paragraph: 12(1), 12(2)
 

an invoice received from HR consultancy for emplyee hire. how this entry pass in tally and plz also mention the voucher type and sub ledger group.

Recruitment agency charges a/c dr

To hr consultany(IF NOT PAID)/ Bank a/c(IF PAID)

(BEING RECRUITMENT AGENCY SERVICES RECEIVED AND PAYMENT MADE)

Recruitment agency would be creditor or show as indirect expense?


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