Mvat on 100% amount or 80% amount
This query is : Resolved
mangesh kiranpure
(Querist)
12 May 2012
Dear Sir,
We have received amount 80% amount from vendor after deduction of tax. How much MVAT applicable on received amount it would be on 100% or 80%.
Waiting for reply.
Mangesh Kiranpure
Mob. 9022546402
We have received amount 80% amount from vendor after deduction of tax. How much MVAT applicable on received amount it would be on 100% or 80%.
Waiting for reply.
Mangesh Kiranpure
Mob. 9022546402
CA CS Pawan Jajoo
(Expert)
14 May 2012
You will have to pay VAT on 100 % Amount, whether you receive 100 % or its Credit Sale.
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