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Dec 13, 2012 at 09:09 AM

Input tax at the time of MIRO

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Hi

We have a PO of RS 1000 and assigned tax code V1(10%) in PO. where this tax account will be hit during MIGO and MIRO?

Are we right?

MIGO

INV a/c 1000 DR

GRIR a/c 1000 CR

MIRO

GRIR a/c 900 DR

Input tax a/c 100 DR

Vendor a/c 1000 CR

Regards

Kalim