30 August 2007
A co. pays for Visual Mercandise Expenses to a party who provided the services(labour+ material)in the year 2005/2006. However the bill for the same is booked now and even payment is made now.However the bills were recived earlier i.e in 2005-06.So in that case Vat charged by the party would be booked now so will it be eligible for set-off.
CAclubindia
