Cot
This query is : Resolved
Nayeem Khan
(Querist)
10 March 2016
1.I am new to practicing accounts
Please help me out with the query
As my customer like to go for cot and he also imports the goods from other state can he import if he has registered as cot
2 . what is the tax he need to pay quaterly if he has T.O. of 1000000
3. Does we has to calculate cot only on sales or we need to manage purchases also
Please help me out with the query
As my customer like to go for cot and he also imports the goods from other state can he import if he has registered as cot
2 . what is the tax he need to pay quaterly if he has T.O. of 1000000
3. Does we has to calculate cot only on sales or we need to manage purchases also
KAVIRAJA ADDANGADI
(Expert)
11 March 2016
COT is calculated on gross turnover it depends on categories dealer 1%, hotelier 4%, works contract 4% , C- form cannot be issued in COT for Interstate purchase.
Purchase input not available for COT
Purchase input not available for COT
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