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please tell me procedure how to calculate vat if we got vat
credit?

Answers were Sorted based on User's Feedback



please tell me procedure how to calculate vat if we got vat credit?..

Answer / cashailendramishra

Following would be the procedure
Suppose we have Rs. 500 under VAt output A/c . Input
credit available with us is Rs. 100 Actal amount to be paid
woud be-
Vat on Output 500
Less Input Credit 100
Balance to pay 400

Is This Answer Correct ?    10 Yes 2 No

please tell me procedure how to calculate vat if we got vat credit?..

Answer / deepak bendwal

THE CALCULATION IS UNDER

TOTAL OUTPUT SALES RS. 5000/-
INPUT REBATE IS RS. 500/-
_______
PAYING AMOUNT IS 4500/-

Is This Answer Correct ?    1 Yes 0 No

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