Declaration of trunover regarding
This query is : Resolved
B SRINIVAS
(Querist)
17 March 2016
Dear Sir please tell us Trunover declaration in Vat Returns for expample I Have received Rs 50,00,000/- bill amount + 5% Total Receipt = 52,50,000/- then the turn over is before vat or with vat shall I declared in vat returns
Sanjeeve Narayanan R
(Expert)
17 March 2016
you have to declare an amount excluding vat as Turnover in vat return
Amol S Joglekar
(Expert)
17 March 2016
Which STATE you are from? In most of the VAT returns, both the amounts are required to be disclosed. Net of tax as well as Gross.
Sanjeeve Narayanan R
(Expert)
17 March 2016
in the turnover column,you have to disclose Rs.50L and in the tax Column Rs.2.5L(being vat amount)
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