Vat in balance sheet and p/l

sunil (business) (74 Points)

31 October 2017  

SIR,

Pl  advise whether i have to take input VAT and output tax values to be shown in PROFIT & LOSS statements ?

2.i had .a credit of input VAT. HOW TO ACCOUNT FOR it in P & L and in BALANCE SHEET. It is a proprietorship firm.

pl advise.

regards,

sunil