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Duty & Taxes

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18 September 2007 What treatment of Duty & Taxes in account book of company

19 September 2007 Duties and Taxes are the part of current liabilities and should be treated as such.

19 September 2007 Your question is not very clear. There are various type of Taxes and duties. You should ask specifically for treatment in books. Excise duty and income tax are treated separately however other duties & taxes are charged to revenue and should be separately shown in Profit / Loss a/c as per requirement of Schedule VI.




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