Query in annexure v (tnvat)

Hi any body tell me about the filling of Annexture V in Form I. How to calculate closing stock?

calculate from ITC carry forward or actual closing stock? which detail is required to be given ?

Hi ,

Nobody knows about the Vat Form V properly.

any sales tax people advice me.

Thanks

S.Balaji

Hi, Mr. Muthulan,

Closing stock Value Rs. 400/- @ 5% -  Excess  VAT c/f Rs. 20/-

The value of closing stock shall be :50 x 10= Rs.500/- minus input vat ie.Rs.500 x5/100=Rs.25/-. hence closing stock shall be Rs.475/-