Sir,
Please tell me ..

In financial year 2010-2011 we passed a entry for VAT receivable for Rs. 120,930.00

since output Vat was showing 1,20,930.00 at the end of the year it was transfered to Vat receivable by passing below entry.

I.E VAT receivable a/c .1,20,930.00
To Output Vat a/c 1,20,930.00

Now after assesment, Vat authorities disallowed our 1,20,930.00 due to other reason , now i have passed revered entry in current year exactly opposit as shown above.

now Output a/c shows Dr. balance of 1,20,930.00.
My Query is ,i want to nullyfy output account, then which account should be debited. ( since 120930.00 should be adjusted)

kindly suggest

How do we apparoach to find out REVENUE LEAKAGE in the organisation ? any better steps ?

Dear Experts,

I need your valuable suggestions regarding IFRS. I am working in a PVT LTD Co. in Accounts.
I am planing to go for IFRS but confused whether this will help me because the Implementation of IFRS in India is still unclear.
Since 2009 most of the students completed IFRS but not many got opportunity to work in IFRS and not many got advantage/appreciation in their jobs for doing IFRS.

Also, If you won't suggest IFRS now then should I go for CIMA.

Best Regards

Why is leasehold land depreciated?

We are buying Books from Offset Printers they are charging 5% Vat on Bill. Can we deduct TDS while payment bill amount ?

If yes what is the % of TDS ?

Need help in solving the sum.

Click the link to access the PDF file

https://drive.google.com/file/d/0BzZ3bA7DBBa0TUYxUm5OaVpVWXc/edit?usp=sharing

Hi All!!

We are planning to launch a chain of Salon in India. Kindly guide me as to the requirement of any registration required in Government Authority in India. And also whats gona be the taxation aspect of the same.

Many Thanks in anticipation to receive replies soon.

Regards,

ABC Pvt. Ltd. is a construction company engaged in business of construction of roads and other government contracts. I want to know whether cost of diesel and oil and repairs, in vehicles engaged in making road and shifting of goods from various sites and plant, would be direct cost or indirect cost??? Since it is a construction company vehicles and machines required for constructing road and shifting material to various sites from plant requires higher use of vehicles. so cost of diesel, oils and other repairs is very high as compared to other industry. please tell me these cost would be direct or indirect??? thanks

Dear Friends

can u guide me whether there are any provision regarding payment of service tax liability where service has been supplied to the sez.Is there any kind of reverse charge mechanism (Rate @ 6%)regarding service provided to the sez.plz suggest me.we r provide courier service

pls provide me relevant law

WHAT IS THE MEANING OF CTC AND WHY THE EMPLOYER REDUCE HIS EMPLOYEE CTC. WHAT IS THE CALCULATION. FOT IT.