Easy Office
LCI Learning

Vat

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
18 December 2013 compute the vat payable to the govt. by G & H:
G sold to H - Sale price rs. 10000

tax?

H sold to I sale price 15000
tax ?
less: ?
bal. payable to govt.
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
18 December 2013 u havent mentioned the vat rate?
Profile Image

MJ Krishnamurthy

Profile Image

MJ Krishnamurthy (Expert)
18 December 2013 You have not given the rate of tax Take it as 14%. When G sells for Rs10,000/- he should collect Rs 1400/- as vat and pay to government.Now H sells to I for Rs15,000/-and should collect Rs1875/-@12.5%as Vat. H can pay Rs1875 -1400=Rs475/- to the govt....mjk
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

MJ Krishnamurthy

Profile Image

MJ Krishnamurthy (Expert)
18 December 2013 You have not given the rate of tax Take it as 14%. When G sells for Rs10,000/- he should collect Rs 1400/- as vat and pay to government.Now H sells to I for Rs15,000/-and should collect Rs1875/-@12.5%as Vat. H can pay Rs1875 -1400=Rs475/- to the govt....mjk

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links