input vat and out put vat comes which head?

Question Posted / mohd

Answers were Sorted based on User's Feedback

input vat and out put vat comes which head? ..

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

input vat and out put vat comes which head? ..

Answer / sharma

vat input & vat out put are come in duty & taxes

Is This Answer Correct ?

23 Yes

9 No

input vat and out put vat comes which head? ..

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

More Accounting AllOther Interview Questions

Feature of Master letter of credit of Garments manufacturing company?

What is the difference between absorption, amalgamation and liquidation of companies? And why realisation account is being prepared ?

Any one give some questions and answers . B.R.S, and tally9.0

What are rules of double entry system ?

what is transposition-cum-demat?

Indian Iran Gas pipeline

Clasify Loss

I have scooter , and its insurance expired for the past 1 yrs and i need to renew it ? how to , explain?

Answered but misspelled pl correct BOOK kEEPING IS AN ACTIVITY CONCERNED WITH (Ans.RRECOGDIN)

What are the two motives of business?

what is controlership?

Expand S E Z

For more Accounting AllOther Interview Questions Click Here