Vat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 August 2011
does vat falls in p& L account as per below
input vat : 100
Out put vat : 120
--------------------
balance : 20
-------------------
this will be paid by the company
does it fall in P&L account expenses side
input vat : 100
Out put vat : 120
--------------------
balance : 20
-------------------
this will be paid by the company
does it fall in P&L account expenses side
20 August 2011
its already credit at the time of sale now you are paying now your liability. Now in your books Balance will be Nil after payment.
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