1. When a micro and small enterprise obtains sales revenue, it should calculate the VAT payable in accordance with the provisions of the tax law and recognize it as tax payable, and transfer the relevant VAT payable to the non-operating income of the current period when it meets the conditions for VAT exemption stipulated in the Circular.

2. When the conditions for exemption from VAT are met, do the following:

Borrow: cash on hand/bank deposits

Credit: income from main business operations

Credit: taxes and fees payable - VAT payable

3. Accrual of education surcharges, local education surcharges, urban construction tax, stamp duty, and water conservancy fund

Borrow: business tax and surcharges

Credit: Taxes and fees payable (details of various types of taxes and fees)

4, on the exemption of value-added tax, education surcharges, local education surcharges, urban construction tax to do:

Borrow: Taxes and fees payable - Taxes and fees payable - Value-added tax payable

Borrow: Taxes and fees payable: Urban construction tax/Education surcharge / Local education surcharges, etc.

Credit: Non-operating income - subsidy income

Expanded Information:

VAT Payable

1. Enterprises purchasing materials, etc., according to the amount of VAT that can be deducted, debit this account (VAT Payable - Input Tax) The amount to be credited to the purchase cost is debited to "Material Purchase", "Materials in Transit" or "Raw Materials".

Inventory goods" and other accounts, according to the amount payable or actually paid, credited to "accounts payable", "notes payable", "bank deposits" and other accounts. "The credit is made to the accounts payable, notes payable, bank deposits, etc., according to the amount payable or paid. Returns of purchased goods, do the opposite accounting entry.

Shortage of purchased materials caused by the transportation unit, the transportation unit to be fully compensated, should be debited to the "bank deposits" and other subjects, the credit according to the price of this part of the materials by the "pending property gains and losses" transferred out, according to the part of the materials of the value-added tax by the The value-added tax on these materials is transferred from "Taxes Payable---Value-added Tax Payable (Input Tax Transfers)".

2. When selling materials or providing taxable services, according to the business income and the amount of VAT to be collected, debit "Accounts Receivable", "Bills Receivable", "Bank Deposits" and other accounts, and debit "Accounts Receivable", "Bills Receivable" and "Bank Deposits" according to the special invoices. and debit "Accounts Receivable", "Bills Receivable", "Bank Deposit", etc. according to the business income and the amount of VAT to be collected.

Credit the account (VAT payable - output tax), according to the realization of business income, credit the "main business income", "other business income" account. Sales return, do the opposite accounting entries.

3, the implementation of "exemption, credit, refund" of enterprises, according to the amount of export tax refunds receivable, debit the "other receivables" account, credit the account (VAT payable -). export tax refund).

4. When the enterprise pays the VAT for this month, debit this account (VAT Payable - Tax Paid) and credit this account (Bank Deposit).

5. If the enterprise has unpaid VAT at the end of this month, debit this account (VAT Payable - Transferred Unpaid VAT) and credit: Tax Payable - Unpaid VAT. When you pay next month, debit tax payable - unpaid VAT , credit bank deposits.

6, small taxpayers and the purchase of materials can not obtain special invoices for value-added tax, the value-added tax incurred should be credited to the cost of materials purchases, debit "material purchases", "materials in transit" and other subjects, credit "The company's business is to provide a wide range of products and services to the public.

Baidu Encyclopedia - Taxes Payable