Vat & entry tax liability
This query is : Resolved
muslimsarokhi
(Querist)
26 July 2013
What's liability of vat and entry tax in m.p. if purchase from unregistered dealers If sale 1000 rs and u.r.d purchase 100rs vat rate 5% vat. Amount is vat 50 ya 45 please clear
Aashish Tiwari
(Expert)
26 July 2013
Vat liability= vat payable less Vat receivable
MJ Krishnamurthy
(Expert)
26 July 2013
As no tax is paid on URD purchase Rs50-00 is payable....mjk
Aashish Tiwari
(Expert)
26 July 2013
Queiry is not specific. Rs 50 is payable on sale, we can't say its liability due to absence of receivable vat on purchase.
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