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Mvat on 100% amount or 80% amount

This query is : Resolved 
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(Querist)
12 May 2012 Dear Sir,

We have received amount 80% amount from vendor after deduction of tax. How much MVAT applicable on received amount it would be on 100% or 80%.

Waiting for reply.

Mangesh Kiranpure
Mob. 9022546402
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CA CS Pawan Jajoo

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CA CS Pawan Jajoo (Expert)
14 May 2012 You will have to pay VAT on 100 % Amount, whether you receive 100 % or its Credit Sale.

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