banner_ad

Vat

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 June 2012 raw materials
Rs 600000 + vat 4%
Rs 500000 + vat 5%
Rs 400000 + vat 12.5 %
Rs 100000 + CST 2%
profit - 20% on cost
Sales are made in the ratio of 80% local and 20% intership

Note - vat on local sale 12.5 % and interstate 2 %
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
29 June 2012 Total purchase value

Rs.(600000+500000+400000)input vat available + (Rs.102000)CST unable to set off = Rs.1602000/-

20% on cost Rs. 1602000x20% =320400 = Total sales value (1602000+320400) = 1922400/-

Local sales Rs.1922400x80% = 1537920
Interstate sales Rs.1922400x20% =384480

Vat12.5% on Local sales Rs.1537920x12.5% = 192240

Cst 2% on Interstate sales Rs.384480x2% =7690/-

Against VAT payable set off through purchase Rs. 99000/- balance VAT Payable Rs. 93240/-

CST payable Rs.7690/- (no set off on CST)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details