20 March 2013
Mr Loknath, All the amounts you receive on sale of goods as consideration has to be taken for VAT calculation. This includes packing and transportation charges.If there are any tarde or special discounts,the balance amount shown as payable is liable for vat.In case any interest is charged for delayed payments such charges are to be excluded for vat levy.Any free samples and supply free of cost under promotionl schemes are also to be excluded from vat...mjk
CAclubindia
