vat liability
This query is : Resolved
vicky grewal
(Querist)
26 September 2010
hi to all
my query is
Raw material purchased from forign market(including duty paid on import @20%) rs 47000
Raw material purchased from local market(including vat charged on material@1%)rs 10100
RM purchased from another state (excluding CST) rs. 20000
storage,transpotation cost & insurance rs 3000
other manuf. expenses rs 600
mr x sold good to mr y adding of profit @10% on selling price. vat rate on sale of such good 10%. reply please thanx.
my query is
Raw material purchased from forign market(including duty paid on import @20%) rs 47000
Raw material purchased from local market(including vat charged on material@1%)rs 10100
RM purchased from another state (excluding CST) rs. 20000
storage,transpotation cost & insurance rs 3000
other manuf. expenses rs 600
mr x sold good to mr y adding of profit @10% on selling price. vat rate on sale of such good 10%. reply please thanx.
Ram Avtar Singh
(Expert)
26 September 2010
10 % Vat to be charge on Total sale of material.
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