Hello Everyone
I have started business few moths back and i am the proprietor of the business.I am the distributor and I purchase finished product for reselling in to MP from Rajasthan by giving form 49 to the company.
Company issued me the bill with the net ammont and 2% CST (against C form) and freight extra(i pay in cash directly to the transport company) .Now the company want me to issue the C form.
I want to know about how to calculate to total payable tax. What i know is there is 13 % vat and 2% entry tax on my product. Do i have to pay the tax on purchase?? Please help me about all tax procedure and precautions i have to take to run my business properly and can make profit.
Thank You
CAclubindia
