09 July 2008
I RECENTLY GOT A NEW CLIENT - A MEDICINE CUM GENERAL RETAILER. HE IS UNDER COMPOSITION MY QUERY IS REGARDING HOW TO PAY TAX EG: TOTAL SALES 7 LAKHS (2 LAKHS GENERAL SALES) TOTAL PURCHASES 6 LAKHS (1.5 LAKHS GENERAL PURCHASES)
WAT WOULD BE THE TAX RATE & WOULD MEDICINE SALES BE EXEMPT. HOW DO I SHOWN IN VAT RETURNS?
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