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Vat payable

This query is : Resolved 
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(Querist)
16 August 2011 There is a VAT liability outstanding for the year...now client don't want to pay any amt of VAT in future..then how we can adjust this o/s VAT..whether we increase our income for next year by reversing outstanding vat liab????
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U S Sharma

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U S Sharma (Expert)
16 August 2011 with the client wish to not pay the statuary liability how the CA can account, let the department weive the liability 1st,

on weiever, the amount will get included in profits of the assesee.
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CA YOGESH GARG GMG PLYWOODS

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CA YOGESH GARG GMG PLYWOODS (Querist)
16 August 2011 thank you sir
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 August 2011 If the liability is legitimate, the dealer can't deny / write off the payment unilaterally.
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CA YOGESH GARG GMG PLYWOODS

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CA YOGESH GARG GMG PLYWOODS (Querist)
16 August 2011 thank you sir.... :-)
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