Accounting Entry-Vat

Good Afternoon to All,

we have registered the VAT in Karnataka,  In Oct month Out Put Tax is Rs.95,000.00 (Duties & Taxes, Liability)

                                                                                                       Input Tax is Rs.42,000.00  (Duties & Taxes, Liability)

                                                                                                   Vat Payable is Rs.53,000.00

And we paid Rs.53,000-00 to Govt, My question is How to pass Entry Vat payable & How to set off the Vat liablity of Rs.53,000

Awaiting for your kind replies......

 

 

Replies (6)

output tax dr

input tax cr

vat payable A/c cr

 

then vat payble a/c Dr

       cash/bank   cr

agree with kundan

Thanks  Mr.Kundan...............

I Agree with Mr. Kundan.

Originally posted by : Member (Account Deleted)

output tax dr

input tax cr

vat payable A/c cr

 

then vat payble a/c Dr

       cash/bank   cr

I agree

 

output tax dr  Rs. 95,000.00

input tax cr     Rs. 42,000.00  

vat payable A/c cr Rs. 53,000.00

 

then vat payble a/c Dr Rs. 53,000.00

       cash/bank   cr       Rs. 53,000.00


Absolultly correct, 

I agree with Mr.Kundan...............

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
24 August 2026
Semi-Qualified CA/CA Finalist - Tax, GST, Audit & Accounts

Bharat Shah & Associates

Mumbai

CA Inter

View Details
Company
18 August 2026
Audit Assistant - Remote / Work From Home

CA ANOOP P K & ASSOCIATES

Kozhikode

CA Inter

View Details
Company
18 August 2026
CA Semi Qualifies

Goyanka and Associates

New Delhi

CA Inter

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details