input vat and out put vat how it shows in profit and loss
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input vat and output vat never show in profit & loss account
it show in BS if amount is refundable or payable
| Is This Answer Correct ? | 18 Yes | 0 No |
Answer / mohd rayees
The input vat and out put vat it not profit & loss
transaction it balance sheet transaction so it showing in
balance sheet. In balance sheet Dut tax(Tax Payabel)
showing in Laibility side incase of tax refund it showing
in asset side. Not showing in profit and loss A/C.
Answer Wright By Mr. Mohd Rayees(09908841874)
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