Please Help: Accounting
Posted Date : 16-Aug-2016 , 04:15:56 pm | Posted By Ratan Kumar Banka
Previous year Input Vat lying in assets side of the balance sheet which is not refundable by department can this amount should be written off through P& L Account and which is allowable expenses as per income tax
Category : VAT | Answers : 0 | Comments : 1 | Hits : 415
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sanjeev kumar goel
24-Aug-2016 , 02:24:37 amDear Ratan first of make it clear that why the previous year's VAT input is not refundable by the department? Secondly is this input adjustable in current year's VAT liability or not? If you give answer in negative then explain the reason also.