GCC VAT

LAB ASSIGNMENT

Admin Office House of G-TEC, Calicut-02., India. | Corp. Office Peace Centre, Singapore – 228149
 G-TEC EDUCATION
ISO 9001:2015 CERTIFIED
GCC VAT - LAB ASSIGNMENT

ASSIGNMENT - 1

TRANSACTIONS: EMIRATES TO EMIRATES

The followings are the transaction of M/S Dubai Audio Centre, Sheikh Zayed Rd, Near
Business Bay Metro Station - Dubai - United Arab Emirates, phone: +971 4 343 1441. TRN
(VAT) NO. 123400500700010

VENDORS DETAILS

1. M/S JUMBO ELECTRIC CO. LTD.

AL-GURG BUILDING
TARIQ BIN ZIYAD STREET
IST FLOOR, AL-KARAMA AREA – 3426
DUBAI – UAE
VAT TRN: 120203554430011.

2. VERGIN MEGASTORE
E-259, AL-WAHDA MALL
ABUDABI
Web: verginmegastore.ae
VAT TRN: 120002300010000
CUSTOMER DETAILS

1. AL GHANDI ELECTRONICS
RAS AL KHOR COMPLEX, OMAN-HATTA ROAD
P. O. BOX NO. 9098
DUBAI
UNITED ARAB EMIRATES
VAT TRN: 200032300040010
PH: +971 4 231 0405.

2. EROS DIGITAL HOME

GROUND LEVEL NEAR SPLASH
SHARJAH CITY CENTRE
AL WAHDA - SHARJAH
UNITED ARAB EMIRATES
VAT TRN: 432002200456000.

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 G-TEC EDUCATION
ISO 9001:2015 CERTIFIED
GCC VAT - LAB ASSIGNMENT

PRODUCTS

SL.
NAME OF THE PRODUCT PRICE (IN AED)
NO.
CANON EOS 5D MARK IV DSLR CAMERA WITH 24 70MM F/4L
1 AED 15,484
LENS

2 PHILIPS 43PFT6150S 43" SMART LED TV AED 998

3 KENWOOD FP120 FOOD PROCESSOR, WHITE AED 156

4 SONY 43" KD43X7000F 4K SMART TV AED 1698

01/01/2018

 Mr. Emran Ali and Mr. Shoukath Ali Started business with AED 10,00,000.
 Open an account in Dubai Islamic Bank with AED 6,00,000.

03/01/2018

 Provide Order to JUMBO ELECTRIC COMPANY LTD. Dubai, for the following items: Order No.
(450)

SL. PRICE (IN

NAME OF THE PRODUCT QTY
NO. AED)

1 PHILIPS 43PFT6150S 43" SMART LED TV 50 AED 998

2 SONY 43" KD43X7000F 4K SMART TV 40 AED 1698

05/01/2018

 Order given to M/S VERGIN MEGASTORES LLC, ABUDABI for the following items. (Order No.
230)

SL. PRICE (IN

NAME OF THE PRODUCT QTY
NO. AED)
CANON EOS 5D MARK IV DSLR CAMERA WITH 24 70MM
1 60 AED 15,484
F/4L LENS

2 KENWOOD FP120 FOOD PROCESSOR, WHITE 50 AED 156

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 G-TEC EDUCATION
ISO 9001:2015 CERTIFIED
GCC VAT - LAB ASSIGNMENT

08/01/2018

 Purchase goods from M/s JUMBO ELECTRIC COMPANY LTD., against order no. 450. 5% VAT
applied.
 Purchase goods from M/S VERGIN MEGASTORES LLC, ABUDABI, against the order No. 230.
5% VAT applied on purchase.

10/01/2018

 Sold 2 Nos. Philips Smart LED TV @ AED 16,800 for cash. Invoice No. DAC001. 5% VAT
applied.
 Made a partial Payment of DIB cheque to JUMBO ELECTRICAL COMPANY for AED 9900.

13/01/2018

 Order received from AL GHANDI ELECTRONICS, OMAN, for the following items. (Order No.
OD0123)

SL. PRICE (IN

NAME OF THE PRODUCT QTY
NO. AED)

1 PHILIPS 43PFT6150S 43" SMART LED TV 20 AED 1300

2 SONY 43" KD43X7000F 4K SMART TV 24 AED 1938

CANON EOS 5D MARK IV DSLR CAMERA WITH 24 70MM

3 30 AED 16,800
F/4L LENS

4 KENWOOD FP120 FOOD PROCESSOR, WHITE 15 AED 210

15/01/2018

 Delivered the goods against the order No. OD123 to AL GHANDI ELECTRONICS, OMAN. 5%
VAT applied. (Invoice NO. DAC002).

20/01/2018

 Made a partial Payment of DIB cheque to M/S VERGIN MEGASTORES LLC, ABUDABI for AED
36,000.
 Order received from EROS DIGITAL HOME, SHARJAH, for the following items. (Order No.
OD0124)

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 G-TEC EDUCATION
ISO 9001:2015 CERTIFIED
GCC VAT - LAB ASSIGNMENT

SL. PRICE (IN

NAME OF THE PRODUCT QTY
NO. AED)

1 PHILIPS 43PFT6150S 43" SMART LED TV 23 AED 1300

2 SONY 43" KD43X7000F 4K SMART TV 08 AED 1938

CANON EOS 5D MARK IV DSLR CAMERA WITH 24 70MM

3 22 AED 16,800
F/4L LENS

4 KENWOOD FP120 FOOD PROCESSOR, WHITE 25 AED 210

22/01/2018

 Delivered (Sold) goods to EROS DIGITAL HOME, SHARJAH, against the order No. OD0124.
5% VAT applied on sale.
 Received United Arab Bank Cheque from EROS DIGITAL HOME, SHARJAH for AED 2,41,000.
 Received Commercial Bank of Dubai Cheque from AL GHANDI ELECTRONICS, OMAN for
AED 3,69,000.

25/01/2018

 Paid DIB Cheque to M/S VERGIN MEGASTORES LLC, ABUDABI, for AED 4,80,000.

30/01/2018

 Paid DIB Cheque to M/S JUMBO ELECTRICAL COMPANY, Dubai for AED 80,000.

31/01/2018

 Adjust VAT Entries

 Calculate the Payable/Receivable VAT amount.

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 G-TEC EDUCATION
ISO 9001:2015 CERTIFIED
GCC VAT - LAB ASSIGNMENT

ASSIGNMENT - 2

TRANSACTIONS: EMIRATES TO EMIRATES

The followings are the transaction of M/S Gulf Electronics Company, 1st floor, al fajr newspaper
building - Muroor Rd - Abu Dhabi - United Arab Emirates, phone: +971 2 677 2600. TRN (VAT) NO.
123407500702010

Vendor Details

Company Name Address 1 Address 2 Address 3 TRN No.

VAHEDNA GROUP Opposite Sabkha Car Al Sabkha Deira - Dubai - Dubai - 140203754430211
Park Street United Arab Emirates
Customer Details
Company Name Address 1 Address 2 Address 3 TRN No.
United Mezzanine Floor, Saif Office # 2, Abu Dhabi 125876321456482
Electronics Co LLC Bin Darwish Building Hamdan
Street

Product Details
Stock Item Brand Pur. Rate Sales Rate VAT %
Air-Conditioners MITSUBISHI AED. 1700 AED. 1900 5%
Refrigerator MITSUBISHI AED. 1840 AED. 1975 5%

Date Transactions

1/1/2020 Mr. Adnan & Abbas started business with AED 5,00,000 each.

2/1/2020 Open an account in NBAD (National Bank of Abu Dhabi) with AED 6,00,000.

3/1/2020 Office expenses paid AED. 200 (Voucher No. V01)

Order given to Vahedna Group, for 50 Nos. Air conditioners (MITSUBISHI). Order No.
5/1/2020
345. VAT 5% excluded

7/1/2020 Travelling expenses paid to executives - AED. 70. (Voucher No. V02)

Purchased items from Vahedna Group, against order No, 345 with VAT. (Inv. No.
9/1/2020
1200).
Order received from United Electronics Co LLC. for 40 Nos. Air conditioners
10/1/2020
(MITSUBISHI). Order No. OD021
Order given to Vahedna Group, for 100 Nos. Refrigerator (MITSUBISHI). Order No. 346
VAT 5% excluded

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GCC VAT - LAB ASSIGNMENT

Returned 5 Nos. Air conditioners (MITSUBISHI)against Inv. No. 1200 (Debit note No. 31)

11/1/2020 Meet Administration expenses AED 894. (Voucher No. V03)

Marketing expenses paid - AED. 105. (Voucher No. V04)

Travelling expenses paid to executives - AED. 112. (Voucher No. V05)

Sold items to United Electronics Co. LLC against Order No. OD021. Charge 5% VAT with
13/1/2020
Invoice.
Issued check to Vahedna Group, AED. 80,000 and settle their account. (Check No.
234560987656456) Voucher No. 325)

15/01/2020 Distribution cost paid by cash AED. 42. (Voucher No. V07)

Selling and Marketing expenses paid. AED. 150 (Voucher No. V08)

Received items against from Vahedna Group, against Order No. 346. (Inv. No. S001).
17/01/2020
VAT 5% extra.
Received check from United Electronic Co. LLC for AED. 19,500. Check No. 6765655661
(Voucher No. V09)

Sold 10 Nos Refrigerator, for cash AED. 19750 (Inv. No. OD023) 5% VAT Charged.

22/1/2020 Travelling expenses paid to executives - AED. 103 (Voucher No. V10)

Received check from United Electronic Co. LLC for AED. 10,000. Check No. 6765655661
(Voucher No. V11)
Order received from United Electronics Co LLC. for 70 Nos. Refrigerator (MITSUBISHI).
25/1/2020
Order No. OD022
Received check from United Electronic Co. LLC for AED. 30, 000. Check No. 5469823147
(Voucher No. V12)
Issued check to Vahedna Group, AED. 50,000 and s. (Check No. 234560987656456)
Voucher No. 451)

26/1/2020 Sold 5 Nos. Refrigerator for Cash (Inv. No. 1003)

Sold items to United Electronics Co. LLC against Order No. OD022. Charge 5% VAT with
Invoice. (Inv. No. 1005)

30/1/2020 Factory expenses - AED 100

Marketing expenses paid - AED. 75

Rent for the month AED 1500

Salary paid for the employees AED 12500

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 G-TEC EDUCATION
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GCC VAT - LAB ASSIGNMENT

Commission paid to Executives AED 6,000

Received check from United Electronic Co. LLC for AED. 90 000. Check No. 1236547825
(Voucher No. V15)

31/1/2020 Adjust VAT Entries

Calculate the Payable / Receivable VAT Amount.

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 G-TEC EDUCATION
ISO 9001:2015 CERTIFIED
GCC VAT - LAB ASSIGNMENT

ASSIGNMENT - 3

TRANSACTIONS: EMIRATES TO EMIRATES

The followings are the transaction of M/S Al Dhafra Electronics Company LLC, Electra Road - Zayed
The First St - Abu Dhabi - United Arab Emirates, phone: +971 2 634 7590. TRN (VAT) NO.
125001520865821

VENDORS DETAILS
M/S Sony.
The Dubai Mall
Dubai - United Arab Emirates
VAT TRN: 120303552430015.
CUSTOMER DETAILS

AL GHANDI ELECTRONICS
RAS AL KHOR COMPLEX, OMAN-HATTA ROAD
P. O. BOX NO. 9098
DUBAI
UNITED ARAB EMIRATES
VAT TRN: 200032300040010
PH: +971 4 231 0405.

Product Details
VAT
Stock Item Brand Purchase Price Sales Price
%
Sony 85X9500G 4K UHD Sony AED. 12,900 AED. 14,000 5%

Transactions:

1. Mr. Mohammad & Mr. Al – Ameen started business with AED 4,00,000 & 3,00,000
respectively.
2. Open an account in Emirates NBD with AED 4,00,000.
3. Operating expenses paid AED. 1,200.
4. Commission Received AED. 2000.
5. Order given to M/S Sony, for 100 Nos. Sony TV (Model: 85X9500G 4K UHD). Order No. 500.
with 5% VAT.
6. Travelling expenses paid to executives - AED. 150.
7. Bought Office Furniture for AED. 20,000.
8. Received Inventory from M/s Sony against Order No. 500. But bill not received. (Receipt
Note No. SDN2001).
9. Bought Laptops for Office Staff AED. 17,000 (10 Laptops).
10. Received Invoice from M/s Sony against Receipt note number SDN2001) – Invoice No. 3252.
11. Order received from Al Ghandi Electronics. for 40 Nos. Sony TV (Model: 85X9500G 4K UHD).
Order No. OD011.

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 G-TEC EDUCATION
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GCC VAT - LAB ASSIGNMENT

12. Administration expenses Paid AED 1500.

13. Marketing expenses paid - AED. 350.
14. Travelling expenses paid to executives - AED. 200.
15. Sold items to Al Ghandi Electronics against Order No. OD011. Charge 5% VAT with Invoice
(Inv. No. 1001)
16. Issued check to Sony, AED. 8,00,000. (Check No. 123456098765615)
17. Distribution cost paid by cash AED. 115.
18. Selling and Marketing expenses paid. AED. 225.
19. Sold 10 Nos Sony TV (Model: 85X9500G 4K UHD) @ AED 14,000 for cash. (Inv. No. 1002)
20. Received check from Al Ghandi Electronics for AED. 5,00,000. Check No. 1676565566
21. Travelling expenses paid to executives - AED. 140.
22. Order received from Al Ghandi Electronics. for 50 Nos. Sony TV (Model: 85X9500G 4K UHD).
Order No. OD012
23. Issued check to M/s Sony, AED. 60,000 (Check No. 345609875656456)
24. Sold 5 Nos. Sony TV (Model: 85X9500G 4K UHD) for Cash (Inv. No. 1003)
25. Sold items to Al Ghandi Electronics against Order No. OD012. Charge 5% VAT with Invoice.
(Inv. No. 1004)
26. Factory expenses - AED 250
27. Marketing expenses paid - AED. 180
28. Rent for the month AED 2000
29. Salary paid for the employees AED 20,000.
30. Commission paid to Executives AED 2,500
31. Adjust VAT Entries
32. Calculate the Payable / Receivable VAT Amount.

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