Our Comany getting 99% exemption under Government Scheme on Total Sales Tax, So we have to pay only 1% of total tax payable monthly,,,
At the end of the year 99% will be showing payable in the Sales Tax Payable account.
So, what will be the entry made for balance of 99% monthly,,, or which account i have to transfered the amount under which ledger & group...
Thanks .........
balance 99% should be treated as income
entry will be
saless tax payable ac - - -- - - dr.
to subsidy received
Abic and Mani Chartered Accountants
Kottayam
B.Com
View Details
S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
