Answer / kirti ranjan acharya

Definitely It is both an asset and liability. but it can b
define in this way as When it is being collected from
party who is purchasing goods it becomes liability for
selling party and it becomes asset for purchaser.

Answer / hemant dubey

Vat is the part of liabilites always it shown in the side
of Duties & Taxes
Whatever we collect from the parties we have to pay that to
government .
So it is one types of Duty aries with us .

What motivates you?

5 Answers   Ernst Young, Fidelity,

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a can do how many company audits

2 Answers  

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what is the journal entry for this situation? and why? situation: Gratuity for this year TK1000000,which TK700000 shows in income statement and TK150000 will shown in next 2 year each.(this is a management decision)

1 Answers  

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What sort of image do you have?

0 Answers   Ernst Young,

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what is bank audit and what type of document is used in bank audit

2 Answers   IOCL, State Bank Of India SBI,

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what is the difference between capital and revenue expenditure

7 Answers  

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before appoinment, an auditor owes to a company more than rs.1000 and he clears his debt before appointment.he is due to company upto 30-06-06.he is give his report between 01- 04-06 to 31-03-07.what is the duty of the auditor while reporting on the transactios occured in his due period

1 Answers  

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if accountant miss the journal entry of outstanding expenses. since its is a error of omission it cannot affect the Trial Balance how we auditor find it out.

10 Answers   Infosys,

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What is a cheque

33 Answers   Bank Of America, College School Exams Tests,

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what ic the definition of cash in bank???

7 Answers  

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How soon can you make yourself available for employment with us

1 Answers  

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i need to pay around $90000 to Mr.R and the agreement clause says that any amount payable as tax are not included in the amount.So how much i need to deduct TDS...??

1 Answers   Caretel,

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