Vat calculation

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uma somani (Querist)
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22 September 2013

Calculaion of vat

Plz calculate VAT payable if, Profit margin is 15% on cost nd vat on sales @ 12.5% Intra state pur. of R/M rs. 250000(excluding vat @ 4%) Purchs of R/M frn unregisterd dealr rs. 80000(including vat @ 12.5%) Forign markek pur. rs. 185000(excluding custom duty @ 10%) Pur frm othr state(excluding cst @ 2%) for rs. 50000 Transportatin chrgs 145000 Interest paid to bank 70000 rs.Your Reply :

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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22 September 2013 The calculation work should not be expected from experts. However,your amounts add up like this : Rs2,50,000+10,000=2,60,000. 2)Rs71111+8889(vat).=80,000 3)Rs1,85,000.4)Rs50,000+1,000=51,000,5)1,45,000 5)70,000.
All total Rs7,91,000 @12.5% VAT is Rs98,875- Payable Rs98,875-8889=89986-...mjk