Accounting treatment for vat
This query is : Resolved
14 September 2011
Dear All
If our output VAT is more than Input VAT in that case either VAT paid will be shown is Profit and loss Account or VAT liability arises will be settled down .
Thanks
If our output VAT is more than Input VAT in that case either VAT paid will be shown is Profit and loss Account or VAT liability arises will be settled down .
Thanks
14 September 2011
It will depending on your accounting treatment. If accounting vat separately then it is liability otherwise expenditure.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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