does vat falls in p& L account as per below

input vat : 100
Out put vat : 120
--------------------
balance : 20
-------------------

this will be paid by the company
does it fall in P&L account expenses side

Can any one tell me the Accounting Disclosure of the Division of a firm.
My Query Is...
If i have maintained separate accounts for both division & a firm.
Then at time of Preparing the Balance-sheet.
Should I Treat it as a separate Branch & then consolidate the balance-sheet or just shown firm & a single firm balance-sheet.
Plz if anyone have detailed knowledge about it..
Plz reply me ASAP.

SIR
OUR CO.MAKE SOME ADDITIONAL WORK FOR ONE PERSON AND WE RECEIVED RS.5000/- AND MAKE ENTRY IN (31/03/11)
BANK DR
TO
OTHER INCOME
BUT NOW (30/07/2011) OUR MANAGEMENT TOLD ME OUT OF THIS 5,000/- WE HAVE TO PAY 2,500/- FOR ANOTHER PERSON BEACUSE HE SPEND THIS AMOUNT
CAN YOU GIVE ME THE ENTRY FOR THIS PROBLEMS
THANKS IN ADVANCE

I am using the option "Track additional cost of purchases" in Tally.
For Eg: Goods Value = 9000 + Freight(Additional Cost) 1000 = Total Purchase 10000
Now, i want to ask, how to view the details of additional cost for purchases.
Kindly help and resolve my query.

A manufacturing company purchase a printer for office use.
Purchase price Rs 5200.00 (includes vat Rs 200.00).
Please inform me , it is Asset & the Accounting entry.

sir ........i dont understand the provision .why it is created? provision for distribution bill, exp wht is the purpose of creating??

Is it any rule in income tax that we can not receive gift more than 50000 from non relatives.

i Being construction company (Joint venture)have paid VAT at the time of purchase of Raw material.....by my sale being flats for which i do not collect vat.....
that means vat that i had paid at the time of purchase of Raw material should be refunded to me... and i should record VAT refund receivable on the Asset side.....where should i give my second effect??

Which method is recomended by ICAI DIRECT OR INDIRECT

exchange rate of which date is more preferable for booking Export Sales of Goods


1) Date of Bill of Lading
2) Invoicing Date
3) Any other Date

Pl. also referred link or Source from where we get information related to export