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Accounting entries and tax
i have one client. he is running BAR (TASMAC)
I don't know how to make entry in bar accounts.
how to entry pass hot drinks purchase bills (bills include excise duty and vat. Vat rates in various rate)
We will getting VAT input? and payable VAT? if VAT apply which rate of tax in tamilnadu?
monthly return to be filed?
ple.advice
Replies (1)
Hot Drinks A/c (name of the item) Dr. -----
To Cash A/c (mode of payment) ---------
for knowing the vat rates for the products go to following website:
https://www.tnvat.gov.in/ and check in commodities rate column
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