hi, frndz
pl help me on the given problem below.
All purchase are from registered dealer.
| VAT Class | Purchase | Sale | Payable |
| CST VAT @ 2% | 43000 | ||
| VAT @ 12.5% | 27808 | 230339 | |
| VAT @ 5% | 1244 | 1178 | |
| TOTAL | 72052 | 231517 | 0 |
in the given table it is understood that i ve paid total vat of72052. the highest vat is 43,000 i.e cst vat.
i will claim VAT set off of pur @ 12.5% against sale vat of 12.5% and similarily of 5%.
but cant i claim cst purchase vat of 43,000. as i ve not cst sale vat.
pl help me in right calculation of vat.
thnx to all in adv.
pl helpppppppppppppppppppppp...............................
CAclubindia
