hi frenz, I hv jst undertaken to prepare the accounts of a trading firm. Cud any1 plz tell me the important points to be kept remembered while preparing VAT A/c.
Also important points on VAT assessement.
Menu
VAT Accounting
Replies (1)
U SHOULD HAVE 2 KEPT IN MIND BELOW MENTIONED POINTS :
1. BE ALERT WHILE DOING ENTRY OF INPUT VAT FROM PURCHASE BILLS OTHERWISE IT U WILL NOT BE ELEGIBLE FOR INPUT CREDIT DURING VAT AUDIT.
2. U WILL NOT ALLOWED TO SET-OFF CST CREDIT FROM VAT PAYABLE, SO BE CAREFUL IN THAT AREAS.
3. TALLY OPENING AND CLOSING BALANCES OF VAT PAYABLE OR RECEIVABLE.
Recent Threads
- Delivery Challan serial number Issue and return ru
- After filing form 71 For TDS mismatch
- UNCLAIMED TDS REFUND QUERY
- Rcm payable which head
- Query of GST
- Long Term Capitalgains on sale of residential prop
- How Salaried Individuals Can Reduce Capital Gains
- NSTPI registration
- GST PAID IN DELHI
- How to Trade Forex in India?
Related Threads
CAclubindia
