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Accounting treatment

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(Querist)
26 September 2012 A DEALER HAS PAID OUTPUT VAT TAX ON SALES . THE SALES ARE CREDIT BASIS. AFTER ONE OF DEBTOR BECAME INSOLVENT .THEN WHAT IS THE THE PORTION OF VAT PAID ON OUTPUT
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Nitesh Parmar

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Nitesh Parmar (Expert)
27 September 2012 Whether assessee sold goods on credit or cash there will be liability to pay tax on sales. as debtor become insolvent but assessee will have to pay tax and can use input credit.
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