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Interest on vat

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(Querist)
01 July 2013 Dear CAclubindia
what is d entry for interest on vat payable ? If i hv paid less interest, can i adjust to vat payable a/c ????????????
thnx
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
07 July 2013 Dr: Interest on VAT delay payment
Cr: Bank


you cannot adjust with vat payable

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