Dear All,
We are selling goods through online. How should we calculate VAT /CST
Price of product 100.
Which is correct , option A or B ?
A ) VAT @ is 14.5% is Rs.14.5 (price exclusive of taxes)
B) VAT @ 14.5% is Rs.12.66 (price inclusive of taxes)
4 Replies
Manjunath K
(Articleship)
(28 Points)
Replied 17 February 2015
If the MRP is already printed in the product that is in your case is ₹. 100 then go for option B, if not option A sounds well.
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 17 February 2015
Hi John, if you sell of Rs.100 (not more than MRP), and if you not charged more for VAT/CST on this, then Rs.100 will be deemed as Option B. So accordingly you have to pay Rs.12.66 to Govt.
nagesh
(accountant)
(221 Points)
Replied 17 February 2015
how much the fuji film sale rate regarding karnataka vat?
a. 5.5%
b. 14.5%
Raghu vender singh
(article assisstant)
(80 Points)
Replied 17 February 2015
Mr.nagesh you must check the respective state govt website...the rates are available for diffrnt products.
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
