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What is the difference between input vat & out put vat?

Answers were Sorted based on User's Feedback



What is the difference between input vat & out put vat?..

Answer / m shasha vali

hi friends, my answer here is if we purchases a computer
rs25000 and vat rate is 14.5%. then total amount is
rs28625.and now we are going to sell the same computer
rs30000 and output vat is 4350.so the difference between
input vat and output vat is rs34350-rs28625.the very
difference is rs 5725.that amount should have to pay to the
govt.

Is This Answer Correct ?    5 Yes 16 No

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