Suppose A(dealer) purchases certain goods locally paying VAT-
Basic Rs. 25000
Excise(12.36%) Rs.3090
Input VAT(5%) Rs.1404.5
Total Paid Rs.29494.5
Now A wants to sell the above goods to other state at CST and make Rs.200 net profit after payment of taxes and input credit. How will he account for it?
CAclubindia
