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Answer Posted / udit saxena
VAT Full Form Is (Value added Tax) When We Purchase Goods
Than We Paid Vat It Call Him (INPUT VAT) and When Sale of
goods than We Call him (OUT PUT VAT).
EX- Suppose That We Purchase of Goods 100 Rs and We Paid 4
% Input Vat Than We Paid Vat Amount 4 Rs. And This Goods
Sale Him 150 Rs and we Recive Vat Amount 4 % = 150*4/100 =
6 Rs.
Than We Paid Vat To Government 6 -4 = 2 Rs
| Is This Answer Correct ? | 6 Yes | 1 No |
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