Negative balance showing in vat tax payable

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truptesh ramesh dange (Querist)
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21 October 2012 i want to know ledger of vat tax payable showing negative balance means what? and in revised schedule vi where it is to be shown

CA.Vinita Gupta (Expert)
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22 October 2012 NEGATIVE BALANCE IN VAT PAYABLE IE DR IN VAT PAYABLE MEANS EXCESS PAYMENT HAS BEEN MADE FOR VAT IT SHOULD BE SHOWN IN ASSET SIDE

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