Indian value added tax (VAT)
Will VAT system complicate the Book of Accounts to be maintained by the dealer?
By  Anonymous  |  09 Dec 2016  |  Upvotes: 0  | 

1 Answer(s)

Soumya
Advocate

No, on the Other hand it will simplify it. A dealer is expected to maintain two registers. Sales Book and Purchase Book. In Sales Book, he would record chronologically sales made and tax collected from the purchaser. In Purchase book, similarly, he will record purchases made and tax paid on such purchases.

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