Difference between vat payable and vat paid
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 May 2013
If my VAT payable is Rs. 120/- but after adjusting Input Tax credit of Rs.80/-.The Vat amount paid by me is Rs.40/-
Then is my VAT payable is Rs.40 or Rs.120/-
Is VAT payable amount inclusive of set- off.
Please Reply.
Then is my VAT payable is Rs.40 or Rs.120/-
Is VAT payable amount inclusive of set- off.
Please Reply.
04 July 2013
Actual vat payable is Rs.120
Paid by input Rs. 80
Paid by Cash Rs.40
Paid by input Rs. 80
Paid by Cash Rs.40
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