Input VAT is created under which Account

Solution (By Examveda Team)

Input VAT (Value Added Tax) is created under the Duties & Taxes account.

Duties & Taxes:
Input VAT is recorded in the Duties & Taxes account because it represents the tax paid on purchases that can be reclaimed or offset against output VAT. This account tracks taxes that are recoverable.

Sales Return:
Sales Return deals with returns of sold goods and is not related to VAT input.

Sales:
Sales accounts are used for recording revenue from goods or services sold, not for VAT input.

None of the above:
Since Input VAT is correctly accounted for under Duties & Taxes, this option is not applicable.

Therefore, the correct answer is Option A: Duties & Taxes.