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Tax treatment of vat payment

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 September 2013 hi,

input vat =100000
output vat=120000
vat paid=20000
can we claim vat paid as expense in profit and loss a/c for the purpose of income tax.
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MJ Krishnamurthy

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MJ Krishnamurthy (Expert)
26 September 2013 VAT and other taxes payments are shown in P&L A/c to arrive at the net profit or PAT....mjk
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Querist : Anonymous

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Querist : Anonymous (Querist)
27 September 2013 thanks sir
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