Value added tax (VAT) is paid by organizations and individual entrepreneurs when selling goods, works or services on the territory of the Russian Federation, when transferring property rights, when performing construction and installation works for their own consumption, when importing goods into the customs territory of the Russian Federation, as well as when transferring goods for their own needs, if the costs of them are not deducted when calculating income tax. VAT accounting is carried out in accordance with the requirements of the Tax Code of the Russian Federation.
Instructions
Step 1
Determine and set in the accounting policy the date of implementation for calculating VAT. Organizations have the right to independently choose one of two options for determining it: - as the shipment is made and the settlement documents are presented to the buyer; - as money is received in payment for the shipped goods (work, services).
Step 2
If the first option is set in the accounting policy for calculating VAT, when determining the date of sale, select the earliest date of two: the day of shipment of goods (work, services) or the day of payment for goods (work, services). If the option of the obligation to pay VAT upon receipt of funds is established, the date of payment for the goods (works, services) will be considered the date of sale.
Step 3
Determine the value added tax rate in accordance with article 164 of the Tax Code at 10% for food products (except excisable) and goods for children according to the list specified in this article, or at 20% for other goods, works and services.
Step 4
Keep a record of VAT on active account 19 "Value added tax on acquired values". Open subaccounts to it by type of value. Debit this invoice for VAT on purchased material assets, and on credit - VAT for material assets written off to production costs. The debit balance of the account reflects the tax balance on the purchased materials.
Step 5
Make an accounting entry based on invoices upon receipt of material assets to the organization from the supplier: Debit account 19, Credit account 60 "Settlements with suppliers" - the amount of VAT on purchased material assets is reflected.
Step 6
Write off the costs of the amount of VAT on the purchased inventories used for the production of goods (works, services) on the basis of the accounting statement by making the posting: Debit of account 20 "Main production", Credit of account 19.
Step 7
Conduct calculations with the budget for VAT on the active-passive account 68 "Calculations of taxes and fees" on the appropriate subaccount. Tax accruals are credited to this account, and in debit, reflect the amount of VAT offset paid to suppliers on purchased material assets. Since the account is active-passive, it will have a debit and credit balance. The debit balance reflects the balance of the budget debt to the enterprise for VAT, the credit balance - the balance of the tax debt to the budget.
Step 8
Calculate the amount of VAT payable to the budget, in accordance with paragraph 1 of Article 173 of the Tax Code of the Russian Federation. To do this, reduce the total amount of tax calculated in accordance with the established procedure by the amount of tax deductions.
Step 9
Make an accounting entry when calculating VAT on payment based on invoices: Debit account 76, Credit account 68 (subaccount "Calculations with the budget for VAT"). When calculating VAT on shipment, the transaction will be as follows: Account debit 90.3, Account credit 68.
Step 10
Submit the amount of VAT on purchased goods (works, services) to settlements with the budget by posting: Debit account 19, Credit account 68 subaccount "Calculations with budget for VAT". When receiving advances from buyers, make the following entries: Debit of account 62 "Settlements with buyers", Credit of account 68 (subaccount "Settlements with VAT budget").
Step 11
Pay VAT based on the results of each tax period, based on the actual implementation, no later than the 20th day of the month following the tax period. Execute the posting after paying off the debt to the budget for the amount of accrued VAT: Debit of account 68 (subaccount "Calculations with the budget for VAT"), Credit of account 51 "Current account" on the basis of the payment order.
