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Practical QUestion on VAT.. Help Out..
A Merchant selling readymade salwars directly to the consumers at Selling Price + 5% VAT EXTRA...
Replies (1)
Dear Hema
Costing is on actual purchse price + other expenses relates with it. like frienght, etc
and Merchant has paid tax whlie purchasing and collecting from customers while selling the goods.
so diffrence of tax must be deposited with VAT Authority.
Regards
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