VAT Credit - India

PPPPPP Member Posts: 159
Hi,
Anybody explain me how to setup for VAT input credit in Purchase.

Here is the scenario.

I have a purchase of 1000 Rs
4 % VAT i am paying i.e. 40.00 Rs
Total amount is 1040 will be paid to the Supplier.
I should have a credit of 40/- as Input Tax .
I tried Structure - Available for VAT input

But 40 rupees adding with the purchase account. Prev. posts I have seen TAX is added to the purchase a/c this is ok with CST. but what about the VAT Input.

I would really appreciate if you could help me in this scenario

Thanks in anticipation
ppp

I

Answers

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