Plese work out our ITC Or Payble Vat
| Vat | Value | Tax | ITC | |
| Purchase Local | 4% | 1000000 | 40000 | 40000 |
| Purchase Local | 12.50% | 500000 | 62500 | 62500 |
| Purchase(CST) | 4% | 500000 | 20000 | 0 |
| ITC | 102500 | |||
| Sales (Local) | 4% | 1200000 | 48000 | 48000 |
| Sales (Local) | 12.50% | 300000 | 37500 | 37500 |
| Stock Transfer | 0 | 50000 | 0 | 0 |
| PAYBLE | 85500 | |||
| NET ITC | 17000 | |||
| SALES(CST) | 4% | 400000 | 16000 | 16000 |
| SALES(CST) | 12% | 50000 | 6000 | 6000 |
| NET PAY | 22000 | |||
CST PAYABLE IS RS.5000/-
| Originally posted by : suraj singh chauhan | ||
 |
CST PAYABLE IS RS.5000/- |  |
thanks sir
But sir as per our advocate CST Sale @ 12% amt reversed from ITC @ 8%
please confirm working
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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