VAT & CST LAIBILITY
This query is : Resolved
03 November 2009
Please tel the vat & Cst laibility in following case,
Vat4% purchases:50,000/-
Vat 12.5% Purchase:30000/-
Vat 4% Sales 70000/-
CST 2% sale 30000/-
Excempet sales 10000/-
branch to branch transfer 10000/-
wht is the laibilities
Vat4% purchases:50,000/-
Vat 12.5% Purchase:30000/-
Vat 4% Sales 70000/-
CST 2% sale 30000/-
Excempet sales 10000/-
branch to branch transfer 10000/-
wht is the laibilities
05 November 2009
Sale VAT @ 4% 70,000 @ 4% 2,800.00
Sale CST @ 2% 38,000 @ 2% 760.00
Exempted Sale 10,000 @ 0% 0.00
Branch Transfer10,000 @ 0% 0.00
--------
Total Tax Output A 3,560.00
========
Pur VAT 4% 50,000 @ 4% 2,000.00
Pur VAT 12.50% 30,000 @ 12.50%3,750.00
-------
Total Tax Input B 5,750.00
========
Tax Payable/Refundble (2,190.00)
No tax to pay. There is no tax liabilities
as per my simple computation, if u tell the sales are in which states, which material transfer to other branch, we will disucss in detail.
Sale CST @ 2% 38,000 @ 2% 760.00
Exempted Sale 10,000 @ 0% 0.00
Branch Transfer10,000 @ 0% 0.00
--------
Total Tax Output A 3,560.00
========
Pur VAT 4% 50,000 @ 4% 2,000.00
Pur VAT 12.50% 30,000 @ 12.50%3,750.00
-------
Total Tax Input B 5,750.00
========
Tax Payable/Refundble (2,190.00)
No tax to pay. There is no tax liabilities
as per my simple computation, if u tell the sales are in which states, which material transfer to other branch, we will disucss in detail.
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