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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Taxation on LTCG for property sold after 24JUL2024
- STCG FOR GOLD ETFs
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- GST ON DAMAGED GOODS
- Last year TDS Claim
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
