Treatment of cst and vat, accounting, Basic Statistics

Treatment of CST and VAT in Sales Book

A supplier who expenses the CST for inter declares purchase by him, is responsible to first deposit the gathered CST from bought to Got Consideration, so he needs to keep the pillar independently for CST in the Revenue Publication, a individual account of Main Revenue Tax is created in journal and all the CST volumes are published consistently and gradually the complete of the CST quantity is placed in the Government's account.

VAT or Value Included Tax is a tax which is assessed on regional purchase within that condition only, every investment entice different rate of VAT as recommended by the Got, supplier is obligations le to cost the VAT on net purchase in his brought up consideration against the individual of the products. So in Sales Publication an individual pillar is managed displaying the VAT which is published in Journal of VAT Account while publishing the purchase of Sales.

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Posted Date: 3/27/2012 4:54:09 AM | Location : United States







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