Can i clarify, whether VAT & Service Tax are Proffit & Loss
A/c items (or) Balance Sheet Items.
- 8 Answers
- 19948 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / chaitanya
If it is a VAT payable and Service Payable we have to show the both on liabilities and it comes under the head CURRENT LIABILITIES.
| Is This Answer Correct ? | 5 Yes | 3 No |
Answer / nishant goel
Pls send me question paper with ans book on my e-mail id
below
nishantgoel79@yahoo.com
thanks for your great help
Nishant Goel
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / moulali
Pls send me question paper with ans book on my e-mail id
below
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sangeetha g
VAT & Service tax item should be clasified under profit &
loss account.
| Is This Answer Correct ? | 1 Yes | 5 No |
Answer / pawan kumar
see if it has inncurred within an a/c year then it must be
p/l item & if it is c/f to next year it should be go to b/s
| Is This Answer Correct ? | 3 Yes | 8 No |
Answer / satyaki_raju@yahoo.com
Babai what do you mean by Final accounts, Pavan Kumar you
are also not correct
Chaitanya you are also not correct.Why you people are not
concentrate on the subject.
They are both Profit and loss as well as Balance sheet
items why because regular payment will be placed in profit
and loss account and the year ending obligation in the
shape of provision or yearending payables will also be
placed under Balance sheet.
If interested I will send valued question papers with
answer books based on accounts and finance to your end if
you send your e-mail
| Is This Answer Correct ? | 0 Yes | 7 No |
What is the diff. between gross profit and net profit?
what is the difference between chartered accounant and cost accountant and which is the best course among two.
Difference Between Tax Invoice and reatail Invoice ?
what are share warrants?
what is uses your subject commerce in banking
what type of a/c these accounts are are tey real, nominal or personal (1)realisation a/c (2)new company a/c(3)equity share holders a/c
What are the major responsibility's of an accountant? what are the qualities he /she requires?
what is balance sheet, capital budgeting, financial statements, current ratio, profit maximization?
can i have practical examples of AS-30
Expand---------DSCB
what is diffference between retail invoice and tax invoice ?
what tax will be on puchasing of sweets and is necessery to use form 38.
Audit 
