IS OCTROI Amount credited to sales or shown seperately under OCTROI AC? eg gross Sale Price Rs 100, octroiRs 10 , VAt 5 % thereon Rs 5.5. which is the correct entry ?-
1) party Ac dr 115.5
To sales 100
To 5 % VAt 5.5
To octroi 10
OR
2) party Ac Dr 115.5
To sales 110
To 5% vat 5.5
CAclubindia
