30 September 2017
A unit rs 100+12%tax =112 purchased now I want to sale it with 5% margin, My question is whether I get margin on rs 100 or 112 Pls tell me
30 September 2017
if the Above 12% tax Available for ITC/refundable then 100 to be taken. your margin is 5% on cost. if 12% tax is not ITC/refundable then it becomes your cost than 5% should be charged on 112.
CAclubindia
