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Vat payable disclosure

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(Querist)
22 July 2015 Consider this:

Team B & Co a partnership firm, has Vat (liability)payable of RS.5000/- as on 31.03.2015, How to disclose this amount in Financial Statements (Balance sheet & P&L).
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B Venkatesh

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B Venkatesh (Querist)
26 December 2015 Got the answer, VAT Payable is Not an Expenses and hence we cannot disclose it in P&L

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