Hello Sir,
I'm from Tamil Nadui statrted new business of Leather Footwear, I buy Shoes from my local suppliers in thso format (i.e)
500 pairs X 400 Rs = 200,000
5% VAT = 10,000 Total: 10,000
Now i sell this goods to gurgaon (or) Delhi (or) Banglore
500 pairs X 450Rs = 225,000
2% Tax against C Form = 4500
`My question is
1) Is this right format to do business..?
2) Is 3% will return to me what i purhcased in local?
3) Now My profit is 25,000 (in that i have lot of expenses like i have to pay my office rent, office boy, many more but for this is recipt enough to sent for Income tax..?
Waiting for your reply
It would be very help full if some one gives me some idea for starter business.
Thanks
CAclubindia
