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Intrest payble of sales tax

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(Querist)
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.
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CA PRAVIN

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CA PRAVIN (Expert)
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.

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