Can i clarify, whether VAT & Service Tax are Proffit & Loss
A/c items (or) Balance Sheet Items.
- 8 Answers
- 19357 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / chaitanya
If it is a VAT payable and Service Payable we have to show the both on liabilities and it comes under the head CURRENT LIABILITIES.
| Is This Answer Correct ? | 5 Yes | 3 No |
Answer / nishant goel
Pls send me question paper with ans book on my e-mail id
below
nishantgoel79@yahoo.com
thanks for your great help
Nishant Goel
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / moulali
Pls send me question paper with ans book on my e-mail id
below
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sangeetha g
VAT & Service tax item should be clasified under profit &
loss account.
| Is This Answer Correct ? | 1 Yes | 5 No |
Answer / pawan kumar
see if it has inncurred within an a/c year then it must be
p/l item & if it is c/f to next year it should be go to b/s
| Is This Answer Correct ? | 3 Yes | 8 No |
Answer / satyaki_raju@yahoo.com
Babai what do you mean by Final accounts, Pavan Kumar you
are also not correct
Chaitanya you are also not correct.Why you people are not
concentrate on the subject.
They are both Profit and loss as well as Balance sheet
items why because regular payment will be placed in profit
and loss account and the year ending obligation in the
shape of provision or yearending payables will also be
placed under Balance sheet.
If interested I will send valued question papers with
answer books based on accounts and finance to your end if
you send your e-mail
| Is This Answer Correct ? | 0 Yes | 7 No |
Expand N R I
What is the purpose of making a trial balance
what is commerce.
If i pay 50% advance to advertise agency towards advertisement expensise, should I deduct TDS on advance payemnt.
how depreciation can be post in tally? for ex : dep on land & buildings (in which vocher we can post it)
what are the new rules of central excise ?
What is the difference between International Accounting Standars & International Financial Reporting Standards?
Expand--------ADCB
the difference between cost accounting and management accounting
EXPAND_______________UNL
what is impairement?
what is the difference between Purchase order and invoice
Audit 
