145A method of Computation

Procedure required for 145A is to prepare two columns the first named inclusive and second named exclusive, the inclusive method contains

1)Turnover

2)Cost of sales

the second column will be :-

1)Turnover + Vat output

2)Cost of sales + vat input

3)Vat paid before 31/3

4) Vat paid after 31/3 and then subtract point 2,3,4 from point number 1