Mr.Rahul a Registered dealer in Maharashtra bought few units of Raw material from a registeres dealer in same state for a sum of 73,500 inclusive of VAT @ 5% .He sold the same to the consumer in Maharashtra at a profit of 30% on SELLING PRICE? Find Net VAT Payable ?
Menu
Please calculate net vat payable?
Replies (3)
vat payable -1262 (assume sale price includes vat)
vat payable -1500(assume sale price excludes vat)
Thanks for the Reply!
Purchase 735000 = 70000 + 3500
Sales 30 % profit 95500 = 91000+4550
So net val payable is Rs 1050/- (4550-3500)
Recent Topics :
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Generate E-Way Bill for 4 Nos. Suppliers Involveme
- Section 54F Exemption
- Would you use a free, open-source alternative to s
- Business & Finance
- Report in GSTR 1 ( Credit Note ) for Wrong GST Rat
- Reply of summons issued under section 70 of the cg
- How to Bulk GSTIN Number Verify and Validation
- OPC Annual Filing Defaults – Need Guidance t
Related Topics :
CAclubindia
