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Sales tax

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(Querist)
12 December 2011 can sales tax charged against p & l can same will be treated as input tax credit under sales tax act?
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CA Sreenivasa Rao Munaga

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CA Sreenivasa Rao Munaga (Expert)
13 December 2011 The difference between the input sales tax and output sales tax will be taken to P&L account.

If you are not taking input sales tax then it will be taken directly to P&L account.

Thanks,
CA M Sreenivasa Rao.

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