Vat liablity
This query is : Resolved
02 October 2013
Dear Sir,
TELL ME MY VAT LIABILITY AS GIVEN BELOW e.g
Purchase - :
PUR - 5% 10000
Input 5% 500
Pur 12.5% 50000
Input 12.5% 6250
Total Pur 60000
Total Input VAT 6750
OMS Pur 10000
CST VAT 200
Sale - :
Sale 5% 22000
Output VAT 1100
OMS Sale 20000
CST VAT 400
TELL ME MY VAT LIABILITY AS GIVEN BELOW e.g
Purchase - :
PUR - 5% 10000
Input 5% 500
Pur 12.5% 50000
Input 12.5% 6250
Total Pur 60000
Total Input VAT 6750
OMS Pur 10000
CST VAT 200
Sale - :
Sale 5% 22000
Output VAT 1100
OMS Sale 20000
CST VAT 400
02 October 2013
You have vat input credit for carry forward to next months of Rs. 5,250 and for this month you need not to pay any vat tax.
Clarification is as follows:
You have input vat of Rs.6,750
You have to pay vat of Rs. 1,100
and you also have to pay CST of Rs.400 as per the VAT rules you can adjust CST payable from the vat input credit available thus your vat input credit available after adjustment to CST is 6750-1100-400 = Rs.5250.
OM SAI SRI SAI JAI JAI SAI
Clarification is as follows:
You have input vat of Rs.6,750
You have to pay vat of Rs. 1,100
and you also have to pay CST of Rs.400 as per the VAT rules you can adjust CST payable from the vat input credit available thus your vat input credit available after adjustment to CST is 6750-1100-400 = Rs.5250.
OM SAI SRI SAI JAI JAI SAI
02 October 2013
it means we can't get setoff of CST input but we should pay CST out put VAT....
correct me if i wrong
correct me if i wrong
02 October 2013
what about this case
Purchase - :
PUR - 5% 10000
Input 5% 500
Pur 12.5% 50000
Input 12.5% 6250
Total Pur 60000
Total Input VAT 6750
OMS Pur 10000
CST VAT 200
Sale - :
OMS Sale 500000
CST VAT 10000
Purchase - :
PUR - 5% 10000
Input 5% 500
Pur 12.5% 50000
Input 12.5% 6250
Total Pur 60000
Total Input VAT 6750
OMS Pur 10000
CST VAT 200
Sale - :
OMS Sale 500000
CST VAT 10000
02 October 2013
No, CST input doesn't setoff it just included in the cost of purchases but CST output(payable) can be adjust with the VAT input credit available.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
02 October 2013
In such case you have pay CST Vat of Rs.4,350. Clarification is below
Vat input credit available before adjustment to CST out VAT is Rs. 5,650 so you can adjust it with the CST payable of Rs.10,000 and balance of Rs. 4,350 has to pay in your hands.
OM SAI SRI SAI JAI JAI SAI
Vat input credit available before adjustment to CST out VAT is Rs. 5,650 so you can adjust it with the CST payable of Rs.10,000 and balance of Rs. 4,350 has to pay in your hands.
OM SAI SRI SAI JAI JAI SAI
02 October 2013
sir how you calculate out VAT 5,650
as per me out VAT 6,750/-
please correct me....
as per me out VAT 6,750/-
please correct me....
02 October 2013
You said you have input vat of Rs. 6,750 means vat paid on the purchases by you and out put vat is Rs.1,100 means vat payable on the sales by you.
I am saying vat input credit available means balance of vat input after sett of with vat out put is called as vat input credit available, so i said vat input credit available for carry forward is Rs. 5,650.(means vat input balance after adjustment of vat out put with the vat input) Please observe the language what i use input and input credit is different, i sorry if my language couldn't understands you sorry to my mistake.
still if you have any confusion please provide here i will clarify you in detail as possible.
OM SAI SRI SAI JAI JAI SAI
I am saying vat input credit available means balance of vat input after sett of with vat out put is called as vat input credit available, so i said vat input credit available for carry forward is Rs. 5,650.(means vat input balance after adjustment of vat out put with the vat input) Please observe the language what i use input and input credit is different, i sorry if my language couldn't understands you sorry to my mistake.
still if you have any confusion please provide here i will clarify you in detail as possible.
OM SAI SRI SAI JAI JAI SAI
02 October 2013
SIR CLEAR MY ALL DOUBT
THANKS FOR YOUR COOPERATION, WOULD YOU LIKE I ASK U MY QUERY YOU THROUGH PERSONAL MESSAGE....
THANKS
THANKS FOR YOUR COOPERATION, WOULD YOU LIKE I ASK U MY QUERY YOU THROUGH PERSONAL MESSAGE....
THANKS
02 October 2013
Yahaa, you shall ask your queries through Personal message and i will help you as level my best.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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