Refund of vat amount
This query is : Resolved
20 September 2011
Dear sir,
If we recived vat refund amount from commerical tax Dept we should treat as income from business?
Dear sir,
If we recived vat refund amount from commerical tax Dept we should treat as income from business?
MJ Krishnamurthy
(Expert)
20 September 2011
Mr Madhu Reddy,
It is reversal of an expenditure,so it gets added to profit only.
MJK
It is reversal of an expenditure,so it gets added to profit only.
MJK
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