vat set off against sales tax payable
This query is : Resolved
07 July 2008
can we take vat setoff against sales tax payable amount in excess and show the sales tax ledger with debit balance in books of account.
CA Hemant T Dewani
(Expert)
08 July 2008
when you purchase goods for sales then vat is paid & you sold materials then tax is collected difference of both are tax payble or refundable then you will setoff the same
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