Regarding vat refund


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Querist : Anonymous

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Querist : Anonymous (Querist)
04 December 2013 there was a vat refund of rs.50000 in a.y. 12-13. in a.y. 13-14 there was a vat of rs. 40,000. would the vat amount be set -off against refund and net refund to be shown in balance sheet asset side?

04 December 2013 YES YOU CAN DO THAT


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