Vat receiveable

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ashok kumawat (Querist)
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04 September 2012 vat receiveable will be included or not in debtors while calculating drawing power of any company/firm.??

Amol S Joglekar

Amol S Joglekar (Expert)
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04 September 2012 The accounting treatment is the CRUX (Deciding factor). When the account of DEBTOR is debited with GROSS, you have a concrete case of including the same in computing the drawing power.

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ashok kumawat

ashok kumawat (Querist)
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04 September 2012 Mostly banks take debtors within 90 days while calculating drawing power,but i want to know that the amount of vat receivable will be included or not in debtors(within 90 days)while calculating drawing power of any firm

Amol S Joglekar

Amol S Joglekar (Expert)
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05 September 2012 The amount that is debited to Debtors account is GROSS, then this GROSS shall be taken by the banks for calculating Drawing Power.

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