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Can i clarify, whether VAT & Service Tax are Proffit & Loss
A/c items (or) Balance Sheet Items.
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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 |
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Audit 
