Home Accounting Value Added Tax (VAT) VAT Transactions Entries and Examples

VAT Transactions Entries and Examples

This tutorial helps you, how to enter VAT Transactions in your records.

This tutorial also provides VAT transaction details with examples.

VAT ENTRIES FORMAT

VAT Transaction Tutorial: Example - 1

XYZ Company purchased material from M/s.Kanna Engg Pvt Ltd., for Rs.54,600 (Basic Value: Rs.52,000 + 5% VAT: Rs.2,600)
XYZ Company sales material to M/s.G.M.Tech India Ltd, for Rs.94,500 (Basic Value: Rs.90,000 + 5% VAT: Rs.4,500)

VAT Transaction Tutorial: Example -2

XYZ Company purchase material from M/s.Purna Electronics Pvt Ltd. for Rs. 80,000/- + Vat 5% Rs.4,000,
XYZ Company purchase material from M/s.Kanna Engg Pvt Ltd., for Rs. 100,000/- + Vat 5% Rs.5,000,
XYZ Company sale material to M/s.Rexi India Pvt Ltd., for Rs.100,000 + VAT 5% Rs. 5,000,
XYZ Company sale material to M/s.G.M.Tech India Ltd., for Rs.200,000 + VAT 5% Rs. 10,000,

Also Read:
VAT Transactions in Tally (Tutorials-1)
VAT Transactions in Tally (Tutorials-2)