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Vat computation

ANKIT SAXENA (STUDENT) (26 Points)

25 June 2016

Mr. Singh registered dealer purchase stock worth 8 lakh by paying 4% tax. He did some value addition 250000 on the stock that he had purchase. What amount of vat he has to pay?

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4 Replies

ANKIT SAXENA (STUDENT) (26 Points)
Replied 25 June 2016

Originally posted by : ANKIT SAXENA
	Mr. Singh registered dealer purchase stock worth 8 lakh by paying 4% tax. He did some value addition 250000 on the stock that he had purchase. What amount of vat he has to pay?

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SACHIN KOTHARI (1 Points)
Replied 25 June 2016

? nOt cleared

Harshit Kabra (INVESTOR) (Student CA final) (1113 Points)
Replied 26 June 2016

it is simplt, then it will amount to sales tax as per prescribed rate (12.5 / 4 )even if he not add any value then his input vat will equals output vat (except out of state sales)