Hai,
Can I know what is the accounting treatment of VAT paid on inter state purchases?
Thanks in advance
Hai,
Can I know what is the accounting treatment of VAT paid on inter state purchases?
Thanks in advance
so is the VAT paid is considered as cost of purchases?
Hello Varsha,
First of all Please note that In Inter State Transactgions Tax Levy is known as CST and not VAT. Yes CST paid is considered as cost of purchase.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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