DVAT Credit on Purchase

CA Sandeep Singh (Chartered Accountant) (137 Points)

22 April 2010  

Sir,

As per notification Dt. 06.01.2010 [F.14(16)/LA-2009/LJ/10/LC LAW/1] of Sales Tax, we can not claim Tax Input on closing Stock so how will we show the purhcase & tax input in Sales Tax Return

For. Eg.

                                                         Taxable Amount               Vat                  Total

Purchase           10000units         1,00,000.00                   5000.00          105000.00

 

Sales                 2000units           30,000.00                      1,500.00             31500

What amount we can claim as Tax Input, It is total Rs. 5000  or Only on 2000 units i.e. Rs. (2000 * 10) @ 5% ..... Rs. 1000

Please suggest me

 

Thanks in Advance

 

Sandeep