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.
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.
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.
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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Aggarwal Sarawagi and Co
New Delhi
CA
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CAclubindia
