19 December 2012
Mr Ajit, You have to classify your sales as per the rates of vat payable/collected,and calculate the total tax payable.,which is output tax Then list out all your purchases as per the rate of tax paid on their bills(except CST purchases) and find out the vat paid and this is input tax. Output tax-input tax=tax apyable. Make any adjustments such input b/f ,not allowable,etc....MJK
CAclubindia
