Can i add excise duties and VAT recd on Raw materials in Cost of Rawmaterials consumed during year......?????????
or Add excise and Vat to Direct expenses.. head.?????
Menu
Revised schedule vi doubt...!!!!!!
Replies (1)
Dear Phani,
As per Revised Schedule VI excise duty to be presented as deduction from revenue of a non–finance company in the notes, and for VAT there is no such disclosure. But as per AS-9 revenue recognised should be net of VAT.
So not to add it in Cost of Raw material consumed & to give the effect according to above lines.
Thanks & regards
Amber Jain
Recent Threads
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responcible to pay GST Liability (If Servi
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
- Query under faceless assessment
Related Threads
CAclubindia
