Vat

This query is : Resolved 

11 December 2009 Dear Experts


If a company has Input vat Rs. 50000 and Out put vat rs. 60000. and Company have paid Vat rs. 60000-50000= 10000.

in the above case which amount debit in profit and loss a/c

Regards
Mahesh Siradhana

11 December 2009 Actual payment amount only debited to the p & L account.



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