Vat accounting in karnataka
This query is : Resolved
shashikala
(Querist)
16 August 2011
Hi All
I have dealer ship Business, i registered Frozen Food Dealers under vat.
I purchase frozen foods including vat.
i sale including vat bill.
so, I would like to prepare return and pay it as per bills or not.
please conform me.it's urgent
I have dealer ship Business, i registered Frozen Food Dealers under vat.
I purchase frozen foods including vat.
i sale including vat bill.
so, I would like to prepare return and pay it as per bills or not.
please conform me.it's urgent
MJ Krishnamurthy
(Expert)
21 August 2011
Miss Shashikala,
It is very simple.you declare the sales as turnover and the vat collected as output tax .The purchases made and the tax paid on them are to be shown as input tax.The difference between the output and the input is to be paid to the department.
MJK
It is very simple.you declare the sales as turnover and the vat collected as output tax .The purchases made and the tax paid on them are to be shown as input tax.The difference between the output and the input is to be paid to the department.
MJK
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