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Pass Entry for Following Purchases and Sales

 

LIST OF PURCHASES

PARTY NAME TYPE OF TAX RATE AMT TAX TOTAL
E CST 2% 500 10 510
J CST 5% 1000 50 1050
TOTAL CST Purchases 1500 60 1560
C VAT 0% 100 0 100
D VAT 5% 2000 100 2100
F VAT 5% 400 20 420
G VAT 12.50% 800 100 900
H VAT 5% 600 30 630
I VAT 12.50% 400 50 450
TOTAL Local Purchases 4300 300 4600

 

LIST OF SALES

PARTY NAME TYPE OF TAX RATE AMT TAX TOTAL
K CST 5% 600 30 630
L CST 2% 1000 20 1020
N CST 12.50% 1200 150 1350
Q CST 5% 400 20 420
S CST 0% 100 0 100
TOTAL CST Sales 3300 220  3520
M VAT 5% 1200 60 1260
O VAT 0% 600 0 600
P VAT 12.50% 1600 200 1800
R VAT 0% 900 0 900
CASH VAT 5% 400 20 420
TOTAL VAT Sales 4700 280 4980

Suppose there is opening vat credit of 50

View Answer
  1. Tax Practical
  2. Practical VAT CST
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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 .
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