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43b

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(Querist)
13 September 2014 under section 43 b expenses are allowed only on payment before due date In case of vat payable is not paid before due date it is disallowed. we do not claim vat as expense because it is recovered from buyer so y there is question of disallowance entry is passed debtor Dr to sale to vat payable please explain.
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CA VISHWAKEERTHI.P.S.

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CA VISHWAKEERTHI.P.S. (Expert)
13 September 2014 Even though you not claim as the expenditure dis allowance attracted because you can not enjoy with other monies .

It means you acting as agent on behalf of government , you cannot enjoy with the government money . So dis allowance attracted u/s 43B and also refer 2(24) i.e., which included as income under the definition of I T ACt.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
14 September 2014 If vat is not claimed as an expense ( ie., not routed through the p & l a/c ), question of disallownce u/s 43B will not sustain.
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