hello everyone,
my boss has given me the task of calculating financial ratios for the vat audit of a clients.
i have not done much work in vat. please some one explain me the following terms if possible then with the help of example/excel file.
1. Net Turnover
2. Net Sales Turnover
3. Net Sales in Maharashtra State
4. Total Sales
5. Cash Sales.
6.Cash Purchases
7. total Purchases
8. Local Sales
9. net Interstate Sales
10. net sales from
row N
waiting for ur reply urgently.
my id abhipcc @ rediffmail.com
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Financial ratio calculation for MVAT Audit Report
Replies (3)
find this
see this
We are a manufacturer of cloth fabrics in mumbai.Registered Tn manufacturer..Our Purchase/sales composition per month is roughly as below
Purchase
TN VAT 5 % purchase basic value Rs 30000000/-
Sales
TN VAT is nil sales Rs 40000000/-
please advice me How much tax amount, we had to pay as per above transaction, to TN government
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