Intrest payble of sales tax
This query is : Resolved
29 September 2011
sir/madam,
if sales tax payable of April to September 10 which is not paid till september 11.
can we get intrest payable on sales tax in balance sheet or can we get expenses for the period of march 11.
if sales tax payable of April to September 10 which is not paid till september 11.
can we get intrest payable on sales tax in balance sheet or can we get expenses for the period of march 11.
04 October 2011
IF SALES TAX IS ROUTED THROUGH PROFIT AND LOSS ACCOUNT THEN U WILL GET DEDUCTION OF PAYMENT OF INTEREST ON SALES TAX.
IF SALES TAX IS NOT ROUTED THROUGH P&L THEN NO DEDUCTION WILL BE ALLOWABLE.
IF SALES TAX IS NOT ROUTED THROUGH P&L THEN NO DEDUCTION WILL BE ALLOWABLE.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Urd purchase entry in tally prime
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
