vat entry for unregistered vendor

raamalakhmi

Hi,

How can its possible to assaign vat input as well as vat output for purticular purchase.

For Ex purchase from unregistered vendor

The purchaser paying the tax for the particular item and taking the input of the tax amount.

the entry may be

Purchase a/c Dr 110
To Vet payable a/c 10
To Vendor 100

Vat paybale a/c Dr 10
To bank 10

Vat input a/c10
To Purchase 10

if anybody knows, share with me.

it is in sp3 Indian local

thanks
raamalakshmi

amitmehta

Hai Dear

Entry shown by you is totally wrong. While purchasing vat input get debited not vat payable.

System is capable of handiling vat functionality independently in Indian Localization.

Thnaks
Amit Mehta

raamalakhmi

hi amit,

The entry is not wrong that is my problem.

while purchaseing from unregisterd vendor the buyer has to pay the tax.

your answer is for the registered vendor.

suppose the purchase is for Rs.5000 the tax is not charged by the vendor.
that means

Purchase A/c Dr5000
To vendor 5000
then we are paying
Vendor a/c 5000
To bank 5000


then vat paid the purchaser

Vat paid for the partciular puchase
Vat payble Rs.200
To bank

Then
Vat input taken
Vat input a/c
To vat payable

hope i made you understand.

Thanks,
lakhmi