• Nisus Accountants

VAT Accounting Dubai, UAE

When Goods are bought following entries are passed, VAT rate is 5%:

Purchase A/C .Dr AED 100


To Cash/Bank/Creditor A/C CR AED 105

  • When Goods are sold , following journal entries will be passed:

Cash/Bank/Name of Customer s A/C Dr. 168

To Sales A/C CR. AED 160

To VAT Output A/C CR. AED 8

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