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