Disclosure requirements under revised schedule vi
This query is : Resolved
29 July 2013
VAT paid on Sales under Composite Scheme is to disclosed as Expenditure or should it be deducted from sales, as we record gross sales in our books of accounts. What should be the treatment as per Revised Schedule VI
01 August 2013
Excise duty alone needs to be included in sales and shown as deduction
VAT should be deducted from sales in the first instance itself
VAT should be deducted from sales in the first instance itself
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