For a Tax Audit Company,in the FY 2012-13,the provision for depreciation was provided Rs.51,184 but actually the provision has to be provided only Rs. 17,584. The income tax return and ROC was also filed for the Company. What will be the consequence and how the mistake can be rectified??
Thanks in advance...
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Hi Experts,
If we have to sell a product of MRP Rs 1900 @ discount of 10% and VAT of 14.5%. Pls suggest what will the break-up look like.
Will it be same as
cUSTOMER TO BE CHARGED 1900-(1900*.1)= 1710
Tax (vat) --1900-(1900/1.145)=240
Unit Price= 1710-240==1470
Pls suggest if VAT will be reverse calculated on MRP or (MRP-Discount) value. Will be greatful if break-up for this calculation could be shared.
Regards,
Esha
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Depreciation