30 December 2013
Dear sir buyer's liability of vat in case of purchasing of a finished good in a manufacturer (buyer pay's the excise duty) finished good 100 add: excise duty 12.36 total 112.36 add: vat@ 14.5% 16.29 total 128.65 (total) less:excise duty 12.36 liability 116.29 (OR) finished good 100 add: vat 14.5 liability 114.5 what is the amount of buyer's liability 116.29 (OR) 114.5.
02 January 2014
sir, the buyer does not give the excise duty to seller. he say's.(buyer) pay the excise duty to department. and should not impose vat on excise duty. thank you
02 January 2014
sir, the buyer does not give the excise duty to seller. he say's(buyer) pay the excise duty directly to department. and should not impose vat on excise duty. thank you
CAclubindia
