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Negative balance showing in vat tax payable

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(Querist)
21 October 2012 i want to know ledger of vat tax payable showing negative balance means what? and in revised schedule vi where it is to be shown
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CA.Vinita Gupta

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CA.Vinita Gupta (Expert)
22 October 2012 NEGATIVE BALANCE IN VAT PAYABLE IE DR IN VAT PAYABLE MEANS EXCESS PAYMENT HAS BEEN MADE FOR VAT IT SHOULD BE SHOWN IN ASSET SIDE
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