Answer / manoj

TOTAL SALES VAT- TOTAL PURCHASE VAT

Answer / guest

Total Sales Vat - Total Purchase Vat

Answer / hr sreepada bhagi

VAT on Sales should be calculated by multiplying the basic
value of the products in the Sales Invoice by the rate of
VAT for those products mentioned in the Schedule to VAT Act.
If any Surcharge or Cess is applicable on basic VAT,
calculate it by multiplying the VAT by the rate of Surcharge
or Cess.

While remitting, deduct the VAT credit on purchases during
the period from the VAT collected (including
Surcharge/Cess). In other words, Amount to be remitted to
the Govt. is the excess of VAT collected over Input VAT
credit : i.e.

VAT on Sales - VAT on Purchases = Amount to be paid to Govt.

Answer / pankaj

OUTPUT VAT - INPUT VAT

Answer / atul nema

Hi,

Determination of VAT has a following proceedings:
Firstly from Gross Turnover reduce ISS sales,Export
sales,Depot Transfer, Sales Return within 6 months,Labour
expenses and profit component part of the sales.

By the above calculation Taxable turnover comes out.
From Taxable Turnover bifurcate the sales into different
commodities rate. calculate the output vat from these
bifurcated turnover.

Gross VAT comes out shall be reduced by the input vat, if
positive result comes out it would be the ultimate vat
liability.

please explain me in brifly how to file monthly TDS challan for a company? e.g. if i deduct tds from all various bills of contractor in a month so this all total tds amount credit towards tds account?

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service tax

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A Company income 150000, and an indivisoul which income 150000 who pay more tax ?

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Sir, My company was formed in the Financial Year 2007-08 and during the year there is primary work i.e. instalation and sitattion work carried on. Now, the Company has started the Production activity form the Financial Year 2008-09 i.e. 14/04/2008. The question is that if the company is entitled to get the Addition depreciation U/s. 32?

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Hi, can you please confirm, what should be the rate of TDS when, I will pay revenue share to a domestic company ?? Tx Buddha

0 Answers  

what is tax deduction on monthly salary

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