24 April 2012
there are many persons who are charging vat on direct expense and others are not charging but they include expense after calculation of vat
its a matter of practice and business terms
there is no problem in it both is correct
including expense will raised output vat addition otherwise there is not difference in preparing pattern
24 April 2012
One vendor supply many items (Electronics, paints,computer parts, electricals items, auto spare parts etc.) then how can maintain Inventory. Is it Inventory is must or not. One another question that he do works of reparing so how can do treatement, can we cut a bill in sale invoice.
24 April 2012
inventory maintain is mandatory in case of regular scheme and how can you valuate closing stock without maintaining it ?
if you a retailer & having composition scheme under vat then you don't need to maintain stock but you have to deemed you profit and according to it you need to prepare invoice
regular scheme there is a format which is used to give stock in hand as the end of month
24 April 2012
there are two difference of repairing expense
1, when purchase repairing or maintenance happens 2, only repairing happens
for first option you can add repairing charge or use separate invoice for repairing both is acceptable second option you have to use separate bill book for it
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