Answer Posted / 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

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