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Bill entry
I have received VAT @ 5.5% bill for visiting cards. How to pass this entry?
Whether purchase or journal entry?
Replies (2)
Sir,
i suppose you have received bill for printing expenses.
then you have to make entry via jounal.
debiting printing expenses
Jv Is good enough because
Vat input can be claimed only for re-salable or salable things only
Here in our case Visiting not a salable thing so far so it is suggestable to go through JV (booking the transaction stright away as Exp)
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