Interested to Buy Any Domain ? << Click Here >> for more details...
What is the difference where sales accounted exluding and
including of vat, octrai, other taxes?
- 1 Answers
- 3493 Views
- I also Faced
- E-Mail Answers
Answer Posted / abhivirthi tax and industrial
Difference between sales accounted with VAT shown separately
and total amount including VAT.
The total bill amount for example Rs. 11450.00 (i.e.
Rs.10000.00 towards value of goods and Rs.1450.00 towards
VAT charged separately). If we account for the transactions
as Purchase value of Goods Rs.10000.00 and Input VAT @ 14.5%
Rs.1450.00 we can easily calculate the Input VAT paid during
the whole month and we can adjust the same with the Output
VAT payable (i.e. after deducting the Input Tax Credit from
Output VAT) to the Government easily.
If we account for the transaction as Rs.11450.00 as total
purchase, we cannot identify the Input VAT paid and it is
very difficult to calculate the VAT payable to Government.
Reply From:
ABHIVIRTHI Tax and Industrial Consultancy
R.R.JAGADEESAN
VAT PRACTITIONER AND INDUSTRIAL CONSULTANT
H-63, Palaami Enclave, New Natham Road,
Madurai-625014.
Cell: 9994990599
| Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
DEFINATION OF CONTRACT ACT IN PARTNER SHIP FIRM AND COMPANY?
how much TDS required in telecommunication services ? Any types of Telecommunication, provider or services receiver
DEFINATION OF INCOME TAX , WEALTH TAX , INDIRECT TAX ,DITECT TAX , AND CORPORATE TAX ?
Explain deferred tax asset?
I want to do correspondence course related for taxation, where I can learn income tax, service tax, sales tax etc. Any one can suggest from which university can I do and name of the course also.
How can I Return CST Form-I
Company A from Maharashtra dispatch material directly to company C in Maharashtra & Billed to Company B in Karnataka. Co. A raised billed to Co. B charged local VAT., Co. B raised bill on Co. C tax rate NIL. Can Co. C claimed on VAT amount ?
how & on which amt tax should be calculate on pvt ltd company or ltd company
Calculate debtors at the end of the year? debtors-50000, bad debts-2000, discount allowed-1000, 5% on bad debt, 2% discount allowed?
What items come under deferred tax liability?
What is income tax? How is it calculated?
IS THERE IS ANY EXUMTION FOR THE NEW CONCER TO NOT THE DEDUCT TDS IN THE 1st YEAR OF ITS INCORPORATION IF THE TURNVOER EXEED THE SPECIFIED LIMIT IN THE 1st YEAR.
The company has to pay transportation charges for transporting its materials. The company has not remitted the TDS on the same within due date. Is this expenses to be disallowed in STI. This expenses is directly considered on valuation of closing stock.
WHAT IS THE DEPREATION RATE FOR COMPANY, EXPLAIN DETAILD WITH EXAMPLE & ENTERY , PLEASE GIVE ME THE DETAIL OF IT ON MY E.MAIL sonidilip87@yahoo.com
What is excise & service tax?
