input vat and out put vat comes which head?

Answer Posted / mallesh

Input Vat comes under current asset
output Vat comes under current liabilities
Vat Payable come under duties & taxes comes under liabilities

Is This Answer Correct ?    13 Yes 2 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is the use of final account?

1399


Can anybody tell me how much salary m show in my resume for expection for the next job m graduate 2year accounts experience?

1551


commisiion recieved journal entry and receipt required

1013


differnce between the 4.7 & 6.0 versions?

1656


Expand---------OTMD

2010






what is the subprime?explain it.

1783


Hi Iam Arun D. I m short listed for Karnatka bank interview. Can anybody share ur experiences regarding Bank interview of karnatka bank which was held on dec for Officer's post. Please help me I f u can. thanx in advance

1552


what are the differences between Tally and Focus?

7395


Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry

1544


Raju put labour charges bill for Rs 65000/- You are directed to deduct 5% security deposit and 1.15% TDS from the bill. Pass journal entry for it

1750


what is new updates in account

1559


What is 100% EOu? what is the benifit and what is difficulty of it?

1685


Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts

1569


WHAT IS B.E.P. CHART

1958


Under the accrual basis of accounting incomes are recognised at the time -------------------

1607