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Former Member
Nov 23, 2009 at 02:42 PM

Balance sheet and Profit And Loss presentation issue

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Hi,

I'm having query on Central sales tax(CST) and Value added Tax(VAT) presentation in balance sheet and Profit and loss account statement.

In Profit And Loss side, the requirement is, while posting a sale document we need to increase the income side i.e the sales figure with the tax portion and relatively giving the adequate effect on the expense side.

In Balance Sheet the respective tax amount should come under Less current Liabilities.

Is it possible in FSV ?

Regards,

Hardav