Menu
Please help me professionals....
Ms.vivitha a resisted dealer in Tamil Nadu, boughts 10 units of raw material from another registered dealer in the same state for a sum of ₹73,500 + 5% vat . She sold the same to a consumer in a Tamil Nadu at a profit of 30% on SP . WHAT will be the net VAT liability payable to the state government?
Replies (1)
1575/- ( Assuming VAT @ 5% on Sales Also & Full ITC eligible )
73500/70 x 100 = 105000/- x 5% ( VAT ) = 5250
VAT on Purchase 73500 x 5 % = 3675
VAT on Sales 5250/-
VAT on Pur 3675/-
Bal Payable 1575/-
Recent Topics :
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
Related Topics :
CAclubindia
