19 October 2010
if profit added by the buyer to resell the goods is as a % of cost price to him ,then the vat paid by him should be included in the cost price???? or
the cost for adding th eprofit will be excluding vat paid??
19 October 2010
If you are claiming input tax credit for the vat paid for the purchases, then for determining the selling price of the product ,the cost may be adopted as "the purchase cost excluding VAT paid".
CAclubindia
