Example 5

A LTD
Purchase 40000
Vat 5% 2000
  42000

 

 XLTD
Sale 60000
vat 5% 3000
  63000

Pass Entry for Adjustment of Output and Input Vat and Vat Payable

View Answer

 

Example 6

B LTD
Purchase 80000
Vat 12.5% 10000
  90000

 

Y LTD
Sale 60000
Vat 12.5% 7500
  67500

Pass Entry for Adjustment of Output and Input Vat and Vat Credit

View Answer

 

Example 7

A LTD   B LTD
Purchase 40000   Purchase 80000
Vat 5% 2000   Vat 12.5% 10000
  42000     90000

 

X LTD   Y LTD
Sale 60000   Sale 60000
vat 5% 3000   Vat 12.5% 7500
  63000     67500

Pass Entry for Adjustment of Output and Input Vat and Vat Credit

View Answer

Example 8

C LTD
Purchase 50000
Cst 2% 1000
  51000

 

Z LTD
Sale 120000
Cst 2% 2400
  122400

Pass Entries for CST Payable

 

View Answer

 

  1. Accounts and Finance
  2. Accounts with Taxes
Ask Download

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .