If I purchase some Goods @ 5% Vat ; Can I sale same goods @ 12.5%
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 01 October 2015
As I understand, since the rate of VAT is more than what is applicable, VAT dept will not have any problem. But if you do so, it is a loss for you as you end up paying more tax.
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