Answer / Vaibhav Mittal

Some asset accounts may have a credit balance because they represent an increase in assets that has been received but not yet paid for. Examples include accounts receivable and prepaid expenses.

IF ONE SUB CONTRACTOR GIVE US BILL OF RS.120000 FOR APRIL,RS.110000 FOR MAY & RS.180000 FOR JUNE WITH LABOUR CHARGES INCLUDING VAT @12.5%.HOW MUCH AMOUNT SHOULD WE DEDUCTED AS A WCT TAX?

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