banner_ad

accounting treatment

This query is : Resolved 

12 August 2009 respected sir,


i want to know whether as per guidance note of ICAI, CST on sales should be shown including or exculding in profit & loss accounts.

As it is cleared that VAT should be shown excluding in profit & loss account but i am doubt about CST.

12 August 2009 Sales should show the value of goods sold which the seller can claim as his Taxes and duties thereon accrue to the state and is not the income of the seller.if you are showing the sales at gross value ie inclusive of taxes then corresponding taxes and duties should appear as expenses in the P/L a/c.taxes includes VAT CST etc


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro

Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news



Answer Query



Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details