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Accounting treatment for vat

This query is : Resolved 
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(Querist)
14 September 2011 Dear All

If our output VAT is more than Input VAT in that case either VAT paid will be shown is Profit and loss Account or VAT liability arises will be settled down .


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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
14 September 2011 It will depending on your accounting treatment. If accounting vat separately then it is liability otherwise expenditure.
OM SAI SRI SAI JAI JAI SAI
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