Itc working

Narendra Agrawal (M.Com) (46 Points)

26 December 2013  

Plese work out our ITC Or Payble Vat

 

Vat   Value Tax ITC
Purchase Local 4% 1000000 40000 40000
Purchase Local 12.50% 500000 62500 62500
Purchase(CST) 4% 500000 20000 0
         
      ITC 102500
         
Sales (Local) 4% 1200000 48000 48000
Sales (Local) 12.50% 300000 37500 37500
Stock Transfer 0 50000 0 0
      PAYBLE 85500
      NET ITC 17000
         
         
SALES(CST) 4% 400000 16000 16000
SALES(CST) 12% 50000 6000 6000
         
      NET PAY 22000