input vat and out put vat comes which head?

Answer Posted / 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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what is the uniform public construction cost accounting act?

1596


How can I find out my credit rating score for free?

1612


With scan-based trading, are retail companies creating inventory at the point of sale or recording income/expense?

1957


I was born on 4th may 1981 iam i eligible to apply for SBI clerical job vacancy

1686


Nature of training account with reason

1115






1.explain the accounting concepts ? 2.what are the objectives of preparing a trail balance ?

1514


distinquish between liquidity ratio and asset management ratio

1446


What is 100% EOu? what is the benifit and what is difficulty of it?

1686


types of inventory

1775


What is the complete role of a Process executive in Accounts Payable Process ? Please anyone who is an expert in the process answer my question. A reply would help me a lot.

703


Have you worked with other on team endeavors

1551


Short Answer on _________Accounts Receivable

1467


Dear sir i had been called for ntpc interview and gd next month..please guide me for it!

2372


what about case study

1688


what is ZBA hold & balance hold in banking?

1820