If the input of VAT deduction is greater than the output, VAT needs to be carried forward, and generally, VAT is not required.

the output tax is less than the input tax, so there is no need to pay tax, and the difference can be deducted from the output tax until next month.

VAT payable in this period = output tax-input tax = (output tax+output tax deemed as sales)-(input tax-input tax transfer-out)

At the end of the month, the unpaid VAT accounts are as follows:

Debit: tax payable-VAT payable (output tax)

Tax payable-VAT unpaid

Loan: payable. Extended information

Value-added tax is a kind of turnover tax based on the value-added amount of goods (including taxable services) generated in the process of circulation. From the taxation principle, value-added tax is a kind of turnover tax levied on the added value of many links in commodity production, circulation and labor service or the added value of commodities. Extra-price tax is implemented, that is, it is borne by consumers, and tax is levied only if there is value added, and tax is not levied if there is no value added.

scope of collection

general scope

the scope of collection of value-added tax includes the sale (including import) of goods and the provision of processing, repair and replacement services. [5]

Special items

Goods futures (including commodity futures and precious metal futures); -Goods futures are submitted to VAT, and taxes are paid in the physical delivery link;

the business of selling gold and silver by banks;

pawnbroker sells dead goods;

consignment business is the business of selling consigned goods by clients;

the production and allocation of philatelic commodities and the sales of philatelic commodities by other units and individuals outside the postal department.

special behaviors

are regarded as sales: the following eight behaviors are regarded as selling goods in the value-added tax law, and all of them are subject to VAT.

consign the goods to others for consignment

sell the goods on behalf of others

move the goods from one place to another (except the same county and city)

use the self-produced or commissioned goods for non-taxable projects

use the self-produced or commissioned goods as an investment in other units

distribute the self-produced or commissioned goods to shareholders or investors

use the self-produced or commissioned goods for non-taxable projects.

Reference: Baidu Encyclopedia: VAT.