A client has the following sales & pur. Pattern
(B) Rs. 20,000/- @ 12.5% = 2,500/-
Purchases (Input VAT) (A) Rs. 40,000 + 4% vat = 1,600/-,
(B) Rs. 20,000 + 12.5 vat = 2,500/-
How he should work out his tax libility.
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HELP !!! (WCT & VAT Combimed)
Replies (2)
| Originally posted by : ashok | ||
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Paid Rs.4100/- and payable is Rs.8900/- so remaining payable is Rs. 4800/- but i dont know 8% tax applicable item..? Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} A client has the following sales & pur. Pattern Sales (Output VAT) (A) Rs. 80,000/- @ 8% = 6,400/- (B) Rs. 20,000/- @ 12.5% = 2,500/- Total Vat collected of Rs. 8,900/- Purchases (Input VAT) (A) Rs. 40,000 + 4% vat = 1,600/-, (B) Rs. 20,000 + 12.5 vat = 2,500/- Total Vat paid of Rs. 4,100/- How he should work out his tax libility. |
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I AM IN COMPOSITION SCHEME OF WCT AND I AM CHARGING VAT @ 8% SO I WANT TO KNOW HOW MUCH % OF INPUT CERDIT WILL BE DISALLOWED
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