I have doubt about application of Section 145A in case of VAT NOT included in the Figures of Sales and Purchase. As the said Section requires Gross Amount of Purchase And sales Including Tax, Cess and Duty if any, In case the Financial Statements has been prepared on the Net Basis a Separate Statement is Required to be attached to The Report U/s 44AB(As per guiding note issued by ICAI).
The Client covered under VAT has prepared his accounts on Net BASIS (i.e. Sales and Purchase Net of VAT).
Do I need to prepare a SEPARATE Statement to make the Sales and Purchase GROSS and show its result on GP/NP. What should be the form of such statement to comply with 145A.
Thanks.
CAclubindia
