TAX LIABILITY

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7059 Points Joined January 2017
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
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On 13 October 2017 at 15:00 Report
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student
750 Points Joined May 2016

TURNOVER IS 6.54 ONLY..

OLD ORNAMENTS PURCHASED WILL FORM PART OF RAWMATERIAL

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On 13 October 2017 at 15:07
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7059 Points Joined January 2017
He pay Tax₹.6540/- only or ₹ 6540+5430,=11870
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On 13 October 2017 at 15:18
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student
750 Points Joined May 2016

ONLY ON 6,54,000

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On 13 October 2017 at 15:34
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"Do the Right Thing...!!!"
128111 Points Joined January 2015
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...

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On 13 October 2017 at 18:14
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7059 Points Joined January 2017
ok thanks
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On 13 October 2017 at 18:24


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