Composition scheme
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 October 2012
a registered holder is in composition scheme his total purchase consists of 5% vat. what will be the calculation for vat liability.
for eg. his turnover is Rs. 1500000 and total net purchase excluding vat Rs. 1000000, so what will be the liability ?
for eg. his turnover is Rs. 1500000 and total net purchase excluding vat Rs. 1000000, so what will be the liability ?
09 October 2012
there is no vat input available in composition scheme. Vat is payable on the basis of fixed percentage calculating on the total sales and percentage is subject to state vat laws.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Defective Return - Tds on advance
- Fixed Deposit Claim Relinquishment by the Nominee
- TDS RATE ON RENT PAID TO NRI
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Valuation of diamonds as on 01.04.2001
- GSTR 9 23-24
- Issue of gst e invoice
- Gstr 9 2023-24
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
