Can i clarify, whether VAT & Service Tax are Proffit & Loss
A/c items (or) Balance Sheet Items.

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Can i clarify, whether VAT & Service Tax are Proffit & Loss A/c items (or) Balance Sheet I..

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

Can i clarify, whether VAT & Service Tax are Proffit & Loss A/c items (or) Balance Sheet I..

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

Can i clarify, whether VAT & Service Tax are Proffit & Loss A/c items (or) Balance Sheet I..

Answer / mahendra

both are balance sheet item

Is This Answer Correct ?    2 Yes 1 No

Can i clarify, whether VAT & Service Tax are Proffit & Loss A/c items (or) Balance Sheet I..

Answer / moulali

Pls send me question paper with ans book on my e-mail id
below

Is This Answer Correct ?    0 Yes 0 No

Can i clarify, whether VAT & Service Tax are Proffit & Loss A/c items (or) Balance Sheet I..

Answer / sangeetha g

VAT & Service tax item should be clasified under profit &
loss account.

Is This Answer Correct ?    1 Yes 5 No

Can i clarify, whether VAT & Service Tax are Proffit & Loss A/c items (or) Balance Sheet I..

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

Can i clarify, whether VAT & Service Tax are Proffit & Loss A/c items (or) Balance Sheet I..

Answer / babai

BOTH ARE RELATED TO FINAL ACCOUNT...

Is This Answer Correct ?    5 Yes 11 No

Can i clarify, whether VAT & Service Tax are Proffit & Loss A/c items (or) Balance Sheet I..

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

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