Schedule - vi

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2011 As per New Schdule VI of The Companies Act in Profit & Loss Account Revenue from Sale of Product, Services & Other Operating Incomes Less Excise Duty gives Net Sale. My Question is whether VAT/CST/Other Taxes are the part of the NET Sales. IF Yes so where has to shown VAT/CST/Other Taxes.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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07 August 2011 All the VAT acts & CST act are sales include the excise duty. Under Excise only sales(because VAT& CST apply on product cost +Excise duty+margin)

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