Excess payment
This query is : Resolved
13 September 2012
IF A BUSINESS MAN HAS PAID EXCESS AMT OF VAT ... SHOULD THE EXCESS AMT BE DEBITED TO P&L???? IF NOT THAN WHAT WILL WE DO OF THE EXCESS AMOUNT???
PLZ CLEAR IT
THANK U
PLZ CLEAR IT
THANK U
CA Sripal Jain
(Expert)
13 September 2012
hi priyansh,
there is VAT receivable and payable,it depends which method u following whether inclusive or exclusive method
2. if you pay more VAT than required you must be clear what r u asking,say you have VAT input of 10k and u asjust 5k on output,then 5k is shown in asset side
there is VAT receivable and payable,it depends which method u following whether inclusive or exclusive method
2. if you pay more VAT than required you must be clear what r u asking,say you have VAT input of 10k and u asjust 5k on output,then 5k is shown in asset side
13 September 2012
I got it sir
THANK U VERY MUCH FOR HELP
THANK U VERY MUCH FOR HELP
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