Vat reverse on rate differnce
This query is : Resolved
06 January 2014
please help me its urgent.!!!
I have a problem regarding VAT reverse on rate differences.
suppose sale price rs. 100/- Vat rs.12.5/-
If rate difference amount 20
vat on 20*12.5= rs. 2.5
Can I reverse this 2.5 vat amount????
as a set off???
please help me...
I have a problem regarding VAT reverse on rate differences.
suppose sale price rs. 100/- Vat rs.12.5/-
If rate difference amount 20
vat on 20*12.5= rs. 2.5
Can I reverse this 2.5 vat amount????
as a set off???
please help me...
06 January 2014
NO, YOU CAN NOT SET OFF.
VAT CALCULATED ON SALE PRICE BUT NOT ON MONEY RECEIVED.
VAT CALCULATED ON SALE PRICE BUT NOT ON MONEY RECEIVED.
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