If purchase price = 1000+18%+200 experience =1380.
If I will sale ..what will be amount of SALE PRICE ??
11 Replies
Info GST
(289 Points)
Replied 17 September 2017
if your purchase price is 1000+18%=1180 and u add 200/- as ur profit your sales price will be 1180+200+36=1416/-
Shoaib
(I want to cMA class)
(46 Points)
Replied 17 September 2017
Tax paid on purchase 180 and collection 0nly 36, how
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 September 2017
Tax collection 216....
At the time of return.,
You ll less your purchase tax to sales tax (216 - 180 = 36)
Your tax liability Is. 36. You ll pay to govt Rs. 36....
At the time of return.,
You ll less your purchase tax to sales tax (216 - 180 = 36)
Your tax liability Is. 36. You ll pay to govt Rs. 36....
Shoaib
(I want to cMA class)
(46 Points)
Replied 17 September 2017
In this case ,we can say that if purchaser is follow composition scheme ,,,he cannot collect tax on sale
S ELAVARASI
(ACCOUNTANT)
(2975 Points)
Replied 17 September 2017
@ Shoaib...
You ll see the link You get satisfy
/experts/how-to-calculate-gst-on-sale--2571584.asp
Mahesh Shaha
(303 Points)
Replied 17 September 2017
And he can not claim ITC. So total cost of purchase will be 1380 + profit % as desired by you + 1% GST, suppose profit is 10%., cost of purchase Rs.1380 + 138 profit =1518 + 15.18 GST comes to Rs. 1533.18 say Rs.1533
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