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Vat Payable computation

1072 views 1 replies

Gurmet Siingh

Chartered Accountant

413 Points Joined September 2007

Hi ,

Can someone pls. tell me how to calculate Vat Payable & what is the procedure & timings of Vat Returns with CST

Replies (1)

CA.D.K.BAYYAREDDY

Chartered Accountant

117 Points Joined January 2008

vat payable is diff. Sales Tax charged (out put tax) on products sales Minus Purchases tax (input tax) paid on products purchases. For CST purchasesi.e. inter state purchases, input tax cannot be availed to set off with out tax payable. Due date to file retunrs is 20th of every proceeding month.