VAT & CST LAIBILITY

This query is : Resolved

M SURESH REDDY (Querist)
Follow

03 November 2009 Please tel the vat & Cst laibility in following case,

Vat4% purchases:50,000/-
Vat 12.5% Purchase:30000/-

Vat 4% Sales 70000/-
CST 2% sale 30000/-
Excempet sales 10000/-
branch to branch transfer 10000/-

wht is the laibilities

A. Sankaranarayana

A. Sankaranarayana (Expert)
Follow

05 November 2009 Sale VAT @ 4% 70,000 @ 4% 2,800.00
Sale CST @ 2% 38,000 @ 2% 760.00
Exempted Sale 10,000 @ 0% 0.00
Branch Transfer10,000 @ 0% 0.00

--------
Total Tax Output A 3,560.00
========

Pur VAT 4% 50,000 @ 4% 2,000.00
Pur VAT 12.50% 30,000 @ 12.50%3,750.00

-------
Total Tax Input B 5,750.00
========

Tax Payable/Refundble (2,190.00)

No tax to pay. There is no tax liabilities
as per my simple computation, if u tell the sales are in which states, which material transfer to other branch, we will disucss in detail.