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TAX LIABILITY
Pradeep is a Composition dealer .He conducted a Jewellery business Sales of Gold Ornaments.His Turnover of Gold Sales from 01.07.2017 to 30.09.2017 is ₹ 654000/-.He purchased OldGold Ornaments from Unregistered person from same period is ₹ 543000/-.This OldGold Ornaments remaking and used for above sales of above period. Please compute his turnover and tax liability in details
Replies (5)
TURNOVER IS 6.54 ONLY..
OLD ORNAMENTS PURCHASED WILL FORM PART OF RAWMATERIAL
He pay Tax₹.6540/- only or ₹ 6540+5430,=11870
ONLY ON 6,54,000
| Originally posted by : subhagan sreerangam | ||
 |
He pay Tax₹.6540/- only or ₹ 6540+5430,=11870 |  |
Yes... You are exactly correct...
He ll be pay tax on sales Rs. 6540 & Pay tax on RCM basis Rs. 5430....
But, He ll be less the 5430 to 6540...
ok thanks
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