WE DEAL IN OPTICAL GOODS. PURCHASES ARE 100% FROM REGISTERED DEALERS. HOWEVER 90% OF OUR SALES IS MADE TO REGISTEEALERS. ROUGHLY 10% IS SOLD ACROSS, THE COUNTER TO INDIVIDUALS. hOW TO SHOW SUCH SALES IN VAT RETURN
PLEASE GUIDE
chaitanya (ceo) (171 Points)
29 June 2015WE DEAL IN OPTICAL GOODS. PURCHASES ARE 100% FROM REGISTERED DEALERS. HOWEVER 90% OF OUR SALES IS MADE TO REGISTEEALERS. ROUGHLY 10% IS SOLD ACROSS, THE COUNTER TO INDIVIDUALS. hOW TO SHOW SUCH SALES IN VAT RETURN
PLEASE GUIDE
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 29 June 2015
Show it as sales at the rates at which VAT is applicable on such sales. For eg. if VAT payable on such sales is 14.5%, then show it under Sales 14.5% in VAT100.
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