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Vat working

Acct. Harsha (Accountant) (139 Points)

15 June 2016

Please send me excel sheet format for MVAT working for return filing

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4 Replies

Harshit Kabra (INVESTOR) (Student CA final) (1113 Points)
Replied 15 June 2016

hiee, harsha take the attachment.

hope that will help u.

thnks

Harshit

+918955737073

Attached File : 1632813 20160615201303 1134325 58917 vat working sheet.xlsx downloaded: 149 times

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Acct. Harsha (Accountant) (139 Points)
Replied 17 June 2016

Thanks for the working

Please also help me for the following:

1) how to pass Interstate Purchases (without C form) where Input VAT @ 4% & Input VAT @ 1% both charged on the sub total. Because item wise I am not able to select both VAT Tax class.

2) Installation / Labour Charges shown on sales invoice, so I have shown under Indirect expenses. Is it correct?

Harshit Kabra (INVESTOR) (Student CA final) (1113 Points)
Replied 17 June 2016

dear harsha,
first of all Inter-state Purchases attract Central Sales Tax(CST), which is not set-off against Output VAT on sales within the state or Output CST in inter-state sales. The CST paid is treated as a part of pro- curement cost.

Harshit Kabra (INVESTOR) (Student CA final) (1113 Points)
Replied 17 June 2016

now, u have only option of obtaining C form to lower ur tax.
now input vat @ 1% are such additionally vat levied on ur purchase.the only way to do is treat that ur part of total cost of purchase.

secondly, for labour/installation, see wheather that part of expense by ur firm is recoverable from customer/recovered from customer then it should not be form part of ur expense, even that should be part of ur sale turnover, ya u can claim labour and installation wages paid by u to worker if it is not recoverd by ur firm from customer, otherwise u should treat it as expense on ground of wages paid by ur firm and as well as form part of sales on ground recovered by ir firm.

hope that will help u
thnks