Sale less than purchase price

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2015 Dear all,

if I purchase A product on rs. 100
and sold it at rs. 90 , by given trade Discount.
then My input vat is more than Output vat,

In this matter Sales Tax Dept of West Bengal ask us to give the balance output vat including profit margin ?

CA Mohit Bansal

CA Mohit Bansal (Expert)
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16 October 2015 You dont need to pay any vat. You may ask refund for the excess input vat

Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2015 Actualy We are FMCG distributor of HUL and HUL will refund the Diffrence amount of Loss amount
then we need to Pay any VAT to sales tax dept.

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