And 1, 201for real estate projects under construction after May 6, the input tax shall be deducted from the output tax in two years according to the relevant provisions of these Measures, with the deduction ratio of 60% in the first year and 40% in the second year.
The accounting entries of this enterprise are as follows:
Borrow: fixed assets, a house, 3 million.
The tax payable is value-added tax (input tax) of 90,000 yuan.
Tax payable and input tax deduction (a house) 60000.
Loan: bank deposit 3 150000.
Note: The tax to be deducted must be transferred to the input tax deduction in the 13 month after the first deduction.
Extended data:
According to the provisions of the tax law, the input tax allowed to be deducted from the output tax is limited to the value-added tax indicated on the following value-added tax deduction vouchers and the input tax calculated at the prescribed deduction rate:
1. Taxpayers purchase goods or taxable services and obtain the VAT amount indicated on the special VAT invoice from the seller.
2. Deduct the input tax at 10% of the price paid by the taxpayer to agricultural producers or small-scale taxpayers to purchase duty-free agricultural products and the price indicated on the purchase certificate approved by the tax authorities.
3. If duty-free grain is purchased from domestic grain purchase and sale enterprises, the input tax amount can be deducted 10% according to the obtained ordinary invoice amount.
4. The freight paid by taxpayers for goods purchased and sold (excluding handling fees, insurance premiums and other miscellaneous fees) shall be deducted from the input tax by 7% according to the freight and fund amount listed in the freight settlement form (ordinary invoice).
5. General taxpayers of production enterprises can buy duty-free waste materials sold by waste materials recycling business units, and deduct the input tax 10% according to the amount indicated on the ordinary invoice issued by waste materials recycling business units and supervised by the tax authorities.
6. Enterprises purchasing special equipment and general equipment of VAT anti-counterfeiting tax control system can deduct the VAT output tax by the tax amount indicated in the special invoice obtained at the time of purchase.
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