Hello,
Should the Purchase & Sales figure in Profit/Loss A/c be inclusive of VAT or only net figures need to be shown?
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Purchase & sales figures in profit & loss a/c
Replies (3)
Use Net figures excluding VAT
Refer the guidance note below for better understanding:
We have recd payment against export sale Euro 19123.28 @ 69.00 & Invoice price is Euro 19123.28 @ 65.81, When I make entry of this transaction in INR rupees der is some 63000/- rupees etc. so please show me the entry as per tally...9.2
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