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Incidence of vat

This query is : Resolved 
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(Querist)
31 May 2013 Total Turnover is INR 6,00,000.
Taxable Turnover is INR 6,00,000
Taxable purchase INR 5,00,000

Now on what amount VAT needs to be paid
6,00,000 or 1,00,000?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
16 June 2013 Output VAT need to calculate on Rs.600000 and compute the input vat available on purchases Rs.500000

so difference between computed output vat and input vat need to be paid

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