Are VAT and Excise duty paid during the year allowed as deduction while calculating bussiness income u/s 43B and sale and purchase are inclusive of VAT or exclusive of VAT ?
1 Replies
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 23 April 2010
sales tax, service tax, excise duty etc....... allowed as deduction u/s 43B.......... provided they are paid on or before the date of filing of return of income...........
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