06 August 2013
Respected Sir/madam, i want to know that how to calculate vat liability for the retailer who is under the composition scheme . for example total sale is 100000 taxable sales is 80,000 non taxable sale is 20,000 then vat is calculated on 80,000 or 1,00,000? please provide me the solution any one who know the answer. thanks and Regards in advance.
09 August 2013
Under composition scheme for retailers gross amount including sale of tax free or 0% goods is to be consider for arriving TO liable for composition method. (Mah. Vat)
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