https://www.taxtmi.com/forum/issue?id=108645 Treatment of a sales tax refund follows the original accounting: if VAT was expensed, the refund is recognised as income; alternatively, record VAT paid as a current asset Other Taxes Recoverable and on receipt reverse that asset by debiting bank and crediting the recoverable, rather than booking fresh income. en-us Sat, 23 May 2015 14:56:38 +0530 Thu, 23 Jan 2025 15:56:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=108645 Treatment of a sales tax refund follows the original accounting: if VAT was expensed, the refund is recognised as income; alternatively, record VAT paid as a current asset Other Taxes Recoverable and on receipt reverse that asset by debiting bank and crediting the recoverable, rather than booking fresh income. Discussion-Forum Companies Law Sat, 23 May 2015 14:56:38 +0530 https://www.taxtmi.com/forum/issue?id=108645