Menu
Vat audit
namastey.
pls tell me how to check vat account and also I want to know that how set off & carry forward of vat are done..as I have learn this theoretically not applied practically.so little confused...what are the forms for vat payment and return filing..
Replies (1)
Dear Hiten,
for VAT payment (in delhi), DVAT-20 is used.. and for VAT return, DVAT-16 is used...
for every sale the dealer incur, the VAT account is credited as it is liability on the part of the dealer to make payment to the govt. and for every purchase, VAT account is debited as it is asset for him... because he will get credit/set-off that VAT input (got on items purchased) while making payment for the VAT liability (which he incurred when he made sale)... thus, the remaining amount, if any, left is required to be paid to the govt. (after claiming VAT input).
Best Regards,
CA Lovely Arora
ca.lovelyarora @ gmail.com
Recent Topics :
- Police Bandobost and GST Invoice
- Understanding where manual effort goes in audit wo
- Scanned purchase bills to Tally XML with GST check
- TDS applicability of foreign remittance to Oracle
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
Related Topics :
CAclubindia
