pls solve it

sales = 267500

The sale of the company during the month -Rs2,67,500.

the simples way is to make a trading account..

take sales as x

on credit side u will have x and closing stock 50000

on debit side..put opening stock,purcahse and gross profit(x/5)

now do the totalling and make an equation

264000+ x/5= x+ 50000

and solve

The sale of the company during the month -Rs2,67,500.

OP STK + PUR -CLSTK= XXX -1/4 = Gross margin

44,000+220,000+53500-50,000 =2,67,500

opening stock + purchases+ gross profit = sales + closing stock

let us assume sales is 100 then GP is 20 therefore cost is 80

80=214000 (44000+220000-50000)

100=267500

sales = Rs.267500

THANKS  IT WAS damm easy 

I am Sanish from Cochin. I have a doubt regarding service tax interest. I cannot deposit service tax on due date (5th Day).If I deposit on 15th day, from which date I should pay interest? Is it 1st day of the month or after due date(5th day). And what is the interest rate of Service Tax. My service tax labour for May is Rs.150000/- How much amount should I pay if I deposit on 15.06.2011.Please reply to my query... please very urgent. My mail id : Sanish.ks @ sify.com

20% on sale means 25% on cost ,ie, 1/5 on sale=1/4 on cost

cost=220000+444000-50000=214000

g.p=214000/4=53500

so sales= 44000+220000+53500-50000= 267500

267500 is correct answer

thanks monu

Q. In case of delay in payment of Service Tax to the Government, the interest becomes payable under section 75 at the rate of 1.5% per month or part thereof. Whether the period of one month is to be computed from the due date prescribed under Sec. 68 that is 25th of the month in which the payment is due or it should be calculated as per calendar month?

Ans. In case of delay in making payment of Service Tax to the Government, the interest is payable at the rate of 1.5 % per month or part thereof. The period is to be calculated with reference to 26th of the month on which the interest becomes due. In other words, the period between 26th of the month and the 25th of the next months be taken as one month. Otherwise, the person making payment on 151 of the next month will have to pay interest for two months for delay of 6 /7 days, which is not the intention of the law.

Q. The interest for delayed payment of Service Tax is payable @ 1.5% for every month or for the part of a month for delay in payment of Service Tax. If payment is delayed for one or two days, whether the interest is to be paid for the full month or only for one or two days, as the case may be.

Ans. The interest is to be levied u/Sec.75 @ 1.5% for every month or part of the month by which the payment is delayed. Thus, even for a delay by one day interest @ 1.5% is to be charged for full month and not to be charged on the basis of number of days.

Originally posted by : Kamal Kothari
	Q. In case of delay in payment of Service Tax to the Government, the interest becomes payable under section 75 at the rate of 1.5% per month or part thereof. Whether the period of one month is to be computed from the due date prescribed under Sec. 68 that is 25th of the month in which the payment is due or it should be calculated as per calendar month? Ans. In case of delay in making payment of Service Tax to the Government, the interest is payable at the rate of 1.5 % per month or part thereof. The period is to be calculated with reference to 26th of the month on which the interest becomes due. In other words, the period between 26th of the month and the 25th of the next months be taken as one month. Otherwise, the person making payment on 151 of the next month will have to pay interest for two months for delay of 6 /7 days, which is not the intention of the law.     Q. The interest for delayed payment of Service Tax is payable @ 1.5% for every month or for the part of a month for delay in payment of Service Tax. If payment is delayed for one or two days, whether the interest is to be paid for the full month or only for one or two days, as the case may be. Ans. The interest is to be levied u/Sec.75 @ 1.5% for every month or part of the month by which the payment is delayed. Thus, even for a delay by one day interest @ 1.5% is to be charged for full month and not to be charged on the basis of number of days.

AGREED.

267500                                 

MOUNIKA,

PLEASE PROVE THAT 20% ON SALE MEANS 25% ON COST