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what is the journal entry for tax refund?
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Answer Posted / nikhil krishna
Bank Ac Dr....
To Income tax Ac
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Expand-------NBTA
We have a registered dealer under APVAT Act. Our company is manufacturing & marketing of seeds. seeds exempted under vat. recently we have purchased machinery for our new plant construction, against c form. now sales tax dept.not giving the c forms, because our final product is exempted, we are not eligible for c forms. kindly clarify.
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