I have doubt on Input VAT & Output VAT (incoming vat / outgoing vat)

I have a HMS software, where we have interface to tally erp.

When we import the transactions to Tally from HMS (Hospital Management
System)

All the purchases what we do for a period, the tax paid on these purchase
are showing as out going vat.

Similarly when we do the sales of those purchased items through HMS, tax
collected from customer is showing as incoming vat.

Is these are correct terms what they had mentioned in HMS?

Please help me out.


No Answer is Posted For this Question
Be the First to Post Answer

Post New Answer

More Taxation Interview Questions

what is full rate fo tax for non submission of C forms

1 Answers   App Ltd,


procedure of service tax

0 Answers  


what is 'c' form and form 'H' and why these form used in a company. pl tell me

4 Answers  


How many types of vat categoryplease tell me all type of vat categories..............

0 Answers  


HOW A PARTNERSHIP FIRM CALCULATE TAX ON INCOME

2 Answers   IBM, UBI,






how to make entry vat computation/vat payable refundable in tally 9?

10 Answers  


what is the percentage of W.C.T T.D.S to deduct from vendor, and is this includes T.D.S deduction or again T.D.S has to deduct separately?

0 Answers  


Rent is 50000 and service tax is 6180 what is the tds amount?

4 Answers  


Our business is an international call center. we are selling antivirus which is buying rs 200 & selling Rs 4500.what will be the purchase & sales.& what will be taxation processor to calculate tax

0 Answers   TATA,


what is the exact excise duty with cess in Banglore.

2 Answers  


How a dealer shall be registered under O.S.T. & C.S.T. Act?

2 Answers  


Tell about dvat and dvat rate

0 Answers  


Categories