But its no full rounded off to Rs.215. and I was right to saying that it will rs.212.00 but its rs.213.00
Pankaj Arora
(Learner)
(3134 Points)
Replied 21 January 2011
But its no full rounded off to Rs.215. and I was right to saying that it will rs.212.00 but its rs.213.00
S. SAMYNATHAN
(asst manager accounts)
(22 Points)
Replied 21 January 2011
Hi, The reply is basic value of invoice is Rs.170.24, ED & Cess @ 10.30% is Rs.17.54 & VAT @ 14.50% on the transaction value is Rs.27.23. Further, these splitup will not serve any purpose, if the invoice value is inclusive of VAT, you cant avail Input Tax Credit. If the VAT amount amount clearly indicated in the invoice, then we can avail ITC. Hope you have clarified. S. Samynathan.
Om Prakash Regmi
(Subject Matter Expert)
(582 Points)
Replied 23 January 2011
Cost =Rs 187.77 including of excise duty
Vat =Rs 27.23
Total=Rs 215
jagdishkumar Ratanlal Solanki
(ARTICLE )
(32 Points)
Replied 25 January 2011
I have doubt about Vat Audit Limit in " Turnover of Sales" . Is Commission Receipt , Service Sales and other thing is included in Turnover of Sales for deciding VAT Audit Limit . Reply
It is very Urgent
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
