sales tax is payable even if sales is nagetive ?
This query is : Resolved
20 November 2009
is it possible that sales tax is payable even if the sales for the year is negative?
please prove the situation or condition.
condition 1) sales tax payable for the previous period. is thare any more condtion?
please prove the situation or condition.
condition 1) sales tax payable for the previous period. is thare any more condtion?
20 November 2009
How the sale could be negative ?? It could be either NIL or positive figure . .
20 November 2009
sales could be zero or posative figure.
21 November 2009
I think you are Saving that For any F.Y for Ex. your Purchases are Rs. 100/- and Sales are Rs.95/- (95-100 = -5) if you are saying like this..its not right way to calculate...
and also your sales tax depends on your System which you have taken while VAT registraiton..i.e (1)Input vat Credit System or (2) or Lumpsump Payment System
its also depend upon your State bcs its Tax rates are diff. from state to state ok
if your VAT return file like,which you are saying so VAT dept.will issuse a notice for Clarification about negetive sales.. if they think ....
So becareful while looking at your accounts.
and also your sales tax depends on your System which you have taken while VAT registraiton..i.e (1)Input vat Credit System or (2) or Lumpsump Payment System
its also depend upon your State bcs its Tax rates are diff. from state to state ok
if your VAT return file like,which you are saying so VAT dept.will issuse a notice for Clarification about negetive sales.. if they think ....
So becareful while looking at your accounts.
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