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Vat Payable computation

Gurmet Siingh (Chartered Accountant) (413 Points)

06 February 2008

Hi ,

Can someone pls. tell me how to calculate Vat Payable & what is the procedure & timings of Vat Returns with CST

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CA.D.K.BAYYAREDDY (Chartered Accountant) (117 Points)
Replied 06 February 2008

vat payable is diff. Sales Tax charged (out put tax) on products sales Minus Purchases tax (input tax) paid on products purchases. For CST purchasesi.e. inter state purchases, input tax cannot be availed to set off with out tax payable. Due date to file retunrs is 20th of every proceeding month.