Answer / bharath kumar

as shishupal posted answer in that example he did an
calculattion mistake


i.e.,
purchase 2000+ input tax@4% 80 = 2080 (total cost)

sold 3000+ output tax@4% 120 = 3120 (total collected from
customer)


vat payable = output vat - input vat
=120 - 80 = 40


total profit = 3120-40-2080 = 1000 RS

Answer / shishu pal yadav

Actually, We purchased materil wihtin state and paid tax
that is called Input Tax

Exm. (Input Tax)-Mobile Purchased in Haryana for Rs. 2000/
and Vat Tax 4 % total Cost Rs. 2000+800= 2800 (800/ is
Input Tax)

Exm. (Output Tax)Mobile Sold of Rs. 3000/- & charged vat 4
% taotal collection rs. 3000+1200= 3200 (1200/ is output
tax)

Vat Payable = Output vat - Input Vat
= 1200 - 800
VAt Payable is Rs. 400/-

Please leave your comment

Thanks

Answer / vijaya kumar

Concept of Input Vat and Output Vat
Case 1
Mr.A purchase the goods Rs 1100 and vat is 100 again that
goods sold my me to Rs 2200 and Out put tax 200

In the above case 1, Out put 200 and input vat 100. so Mr.A
paid 100 tax

Answer / susanta kundu

Input Vat means the tax imposed on purchase. (which already
taken by the seller)
and similarly out vat means the tax chargred on selling
items. (which to be collected or received from the buyer)


if the input vat is Rs. 100 and out put vat is Rs. 125 the
vat will be paid (Rs. 125- Rs. 100)Rs. 25/- to the
respective department

Answer / praveen.ysd

as shishupal posted answer in that example he did an
calculattion mistake


i.e.,
purchase 2000+ input tax@4% 80 = 2080 (total cost)

sold 3000+ output tax@4% 120 = 3120 (total collected from
customer)


vat payable = output vat - input vat
=120 - 80 = 40


total profit = 3120-40-2080 = 1000 RS

Answer / guduri

Sishupals calculator did a mistake. instead of 4% 40% was
taken in both the cases

Answer / sumit

in above answer shasha miss calculate
on purchase 25000 @14.5 % vat input =3625
on sell 30000 @14.5 % vat out put is =4350
value added tax finally filled =4350-3625=725
margin where as 5000 is profit and 725 is liability against margin of 5000 rs
as vat out put

Answer / abebe

1,3,6 YEAS BUT 2,4,5,7,8,9 NO

Answer / krushna

The question is about the input vat and out put vat. His
intention to know when the input and out vat accounts will
be created. But you both answered an assumed question. The
question or answer should be clear and accurate.

Answer / shishu pal singh

I made a calculation mistake toward Input vat & Output Vat


Mr Bharat is right

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