Confusion for st
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 November 2015
Dear experts,
I am MFG, i have one doubt below mention......
Suppose i am selling my product@Rs. 100 Per PCS. To manufactured this product the costing is RS. 70 materials, RS 5 electricity exp. Rs. 10 labour, Rs. 5 other exp. RS. 10 profit, however i have two query regarding this....
(1) weather my above costing method is correct or not... if not plz provide me correct method...
(2) why vat is applicable on total Rs. 100/- i thing vat should be payable on Rs. 70 (materials portion) and on balance Rs. 30 the ST should be payable.. plz clarify my query....
Regard
Vijay Naagar
I am MFG, i have one doubt below mention......
Suppose i am selling my product@Rs. 100 Per PCS. To manufactured this product the costing is RS. 70 materials, RS 5 electricity exp. Rs. 10 labour, Rs. 5 other exp. RS. 10 profit, however i have two query regarding this....
(1) weather my above costing method is correct or not... if not plz provide me correct method...
(2) why vat is applicable on total Rs. 100/- i thing vat should be payable on Rs. 70 (materials portion) and on balance Rs. 30 the ST should be payable.. plz clarify my query....
Regard
Vijay Naagar
27 November 2015
Sorry bro!! But VAT is chargeable on 100+ exise duty.
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