MAT Credit entries
This query is : Resolved
18 March 2008
1.Can i know what are the accounting entries for MAT Credit taken during the year along with the example and their effect in Balance sheet.
2.Whether the balance MAT credit is accountable/shown in balancesheet in which the MAT credit is utilised?
3.Whether the Provision of income tax is shown net of Advance tax and MAt credit taken?If no how it shown in balancesheet
2.Whether the balance MAT credit is accountable/shown in balancesheet in which the MAT credit is utilised?
3.Whether the Provision of income tax is shown net of Advance tax and MAt credit taken?If no how it shown in balancesheet
19 March 2008
u can refer Guidance notes issued by ICAI in this regard.
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