What is Tax Fraction?
AND
What is Tax Fraction with respect to the sales made by a Retailer to the Customer/ consumer.
And how it is calculated and what is the aftereffect of this to the Output Tax/Input Tax.
Please let me know.
Menu
What is Tax Fraction? Pls...
Replies (1)
TAX FRACTION MEANS THE FRACTION CALCULATED IN ACCORDANCE WITH THE FORMULA:
r/(100+r)
IN WHICH FORMULA "r" IS THE RATE OF TAX APPLICABLE UNDER SEC. 7(1).
Recent Topics :
- Sale of shares in indian company by a non resident
- Difference in TIS
- GSTR-9C Upload Status Error Occured
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
- Addtional trade name for my another firm
- Commission / Agency Business without books: REAL E
- Difference between AIS and 26AS data.
CAclubindia
