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input vat and out put vat comes which head?
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Answer / ethomba
INPUT VAT - CURRENT ASSET
OUTPU VAT - CURRENT LIABILITY
OPEN CONTROL ACCOUNT, TRANFER BALANCE TO CONTROL ACCOUNT,
AND PAY THE BALANCE IF ANY.
| Is This Answer Correct ? | 36 Yes | 2 No |
Answer / sharma
vat input & vat out put are come in duty & taxes
| Is This Answer Correct ? | 23 Yes | 9 No |
Answer / mallesh
Input Vat comes under current asset
output Vat comes under current liabilities
Vat Payable come under duties & taxes comes under liabilities
| Is This Answer Correct ? | 13 Yes | 2 No |
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Audit 
