Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / abhivirthi tax and industrial
In the local purchase bills i.e. purchases made from the
registered dealers within the state with valid Tax Payer
Identification Number which is called TIN, Output Tax
collected by the seller is called input tax credit by the
buyer. All taxable items with tax element shown separately to
be taken as purchase turnover and the tax collected in the
purchase bills were called Input Tax credit. Imports and
Interstate purchases and CST collected should not be taken as
Input Tax Credit. Only local taxable purchases from the
registered dealers and tax collected separately should be
taken into account for calculation of Input Tax credit.
| Is This Answer Correct ? | 12 Yes | 0 No |
Post New Answer View All Answers
Please explain what do you do to increase revenues? What are your tactics, techniques, and sales methods?
What do you mean by ledger posting?
What are the effects when intangibles and tangible assests decrease
Are you comfortable with cold-calling?
What is the difference between Open Items and Reconciling Items on a Balance Sheet Reconciliation?
swagat staryed business on 1st jan 2005 with cash on hand Rs. 10000
Tell me about an invoice discrepancy you discovered and how you resolved it
The Horse bought rs. 2000 on Jan.20th died, its carcase was sold for rs.50 loss rs. 1950 what is journal enty
What is the difference in accounting and marketing and what is so different about them?
How can i learn shortly Tally from computer coz, i want to take a company Balance Sheet
have you ever been involved in an invoice dispute? How did you manage the problem?
How do you build a successful business relationship?
What is general ledger account?
Real,Nominal or Personal. Where do reserves, general reserve and Specific Reserve Go? and why?
What is recording damage inventory in books of account?
