Purchase and sales value means

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PANDIAN BRIGHT (Querist)
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12 September 2017 While I am preparing P&L, Balance Sheet. i have one doubt. Whether Sales and Purchase value includes Vat/cst/Gst amount also or only Gross value of that Purchase or sales?

RAJA P M

RAJA P M (Expert)
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12 September 2017 I understand your query. But, you can't ask it exactly... You can prepare your PandL as Purchase and Sales values for without tax amounts. That only your income and expenditure account.... Taxes, Outstanding, Liabilities and Assets, Revenues and Etc., balances in your BS....

PANDIAN BRIGHT

PANDIAN BRIGHT (Querist)
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12 September 2017 Thanks for your Reply. So have i take only gross value of purchase,sales(without tax amount). Is it right?

RAJA P M

RAJA P M (Expert)
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12 September 2017 No... You can take all the bill values then basic values in PandL account and Tax Values are BS account.....

RAJA P M

RAJA P M (Expert)
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12 September 2017 I think, I advisable to you... Please You can contact any Consultant / CA. They ll help You.

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