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Vat computation
Mr. Singh registered dealer purchase stock worth 8 lakh by paying 4% tax. He did some value addition 250000 on the stock that he had purchase. What amount of vat he has to pay?
Replies (4)
| Originally posted by : ANKIT SAXENA | ||
 |
Mr. Singh registered dealer purchase stock worth 8 lakh by paying 4% tax. He did some value addition 250000 on the stock that he had purchase. What amount of vat he has to pay? |  |
? nOt cleared
it is simplt, then it will amount to sales tax as per prescribed rate (12.5 / 4 )even if he not add any value then his input vat will equals output vat (except out of state sales)
8 lak prime cost+250000 valu addition =1050000*4%=4200
if after value addition its converted in 5% slabe then charge 5% vat
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