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tax amouont not load on item th. vat adjustment journal
pravin_m
Member Posts: 67
hello everybody,
I am workin in NAV2009R2. my prob. is this, we purchase some item with tax then tax is input tax account but change of uses i want to load the value of tax in item.
When we purchase then entry is this
purchase a/c = 1000 Dr.
input tax = 10 Dr.
vendor = 1010 Cr.
inventory a/c = 1000 Dr.
direct cost app. = 1000 Cr.
When we create vat adj. journal and fill the amt. in tax load on item field, then
purchase a/c = 10 Dr.
Input Tax = 10 Cr.
no entry pass in inventory and direct cost app. a/c
pls. help me
Thanks in advance
Regards
I am workin in NAV2009R2. my prob. is this, we purchase some item with tax then tax is input tax account but change of uses i want to load the value of tax in item.
When we purchase then entry is this
purchase a/c = 1000 Dr.
input tax = 10 Dr.
vendor = 1010 Cr.
inventory a/c = 1000 Dr.
direct cost app. = 1000 Cr.
When we create vat adj. journal and fill the amt. in tax load on item field, then
purchase a/c = 10 Dr.
Input Tax = 10 Cr.
no entry pass in inventory and direct cost app. a/c
pls. help me
Thanks in advance
Regards
Pravin Maheshwari
0
Comments
In case of CST during purchase , the CST will auto loaded on the item(Inventory). While VAT will be taken
as input and can be claim against VAT output.
____________________
Regards,
Faisal Bukhari
hi, Mr. Faisal
Thanks for reply
this is vat, we load vat on inventory because this item is used as assets then no input allow.
for Example :-
item is Iron Rod this is our item that we sell and purchase so vat input applicable
but we use some Iron Rod in Office Building then vat input is not applicable.
Regards