Hi
Which is the best university for Distance/Parttime MBA (Finance)? And is there any scope in Market for MBA through Distance Mode? I am confused about it.I am MCom passed student and doing job in pvt. co. as a accountant. Any other part time course helpful to me to find good job.
Sir,
We are getting VAt input credit on purchase of Raw material, and account it like under
basic amt debit to purchase a/c.
vat input debit with tax amt and
credit to sduppliers a/c. I think there is nothing any wrong with the accounting.
During the current year TAX audit under income tax my C.A asking and force us to merge the VAT input credit to Purchase a/c. and out put tax in sales a/c..
We argued him that Input VAt is not a acquisition cost also not a expenses on our parts and also if we are taking input credit then how we can merge it.
Please advice what is the proper system. We have given referencesof some supreme court judgement in which clearly mentioned that party can account it separately.
Tushar Shah
E-mail: tushar2161@yahoo.com
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Distance MBA Finance