Vat audit

CA Gnanika (CA ) (485 Points)

18 December 2007  

In composition tax scheme i.e, as per Form Vat 120, Point No 4.3- Value of Goods purchased/ obtained from outside the state/country and transferred in the execution of works contract - is excluding vat amount or inclusive of vat amount,

For Ex:- Base Price Rs 100/-  , Cst on purchases @ 12.5%- Rs 12.5 , So, total price is Rs 112.50/-

So Which amount should be taken in Point No 4.3 of Form Vat 120?