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Question
`What is the difference between input vat & out put vat?`
Question Submitted By :: Earasathiru6
I also faced this Question!!     Rank Answer Posted By

Re: What is the difference between input vat & out put vat?
# 1
Actually, We purchased materil wihtin state and paid tax
that is called Input Tax

Exm. (Input Tax)-Mobile Purchased in Haryana for Rs. 2000/
and Vat Tax 4 % total Cost Rs. 2000+800= 2800 (800/ is
Input Tax)

Exm. (Output Tax)Mobile Sold of Rs. 3000/- & charged vat 4
% taotal collection rs. 3000+1200= 3200 (1200/ is output
tax)

Vat Payable = Output vat - Input Vat
= 1200 - 800
VAt Payable is Rs. 400/-

Thanks

 Is This Answer Correct ? 54 Yes 20 No

Re: What is the difference between input vat & out put vat?
# 2
as shishupal posted answer in that example he did an
calculattion mistake

i.e.,
purchase 2000+ input tax@4% 80 = 2080 (total cost)

sold 3000+ output tax@4% 120 = 3120 (total collected from
customer)

vat payable = output vat - input vat
=120 - 80 = 40

total profit = 3120-40-2080 = 1000 RS

 Is This Answer Correct ? 42 Yes 6 No
Bharath Kumar

Re: What is the difference between input vat & out put vat?
# 3
The question is about the input vat and out put vat. His
intention to know when the input and out vat accounts will
be created. But you both answered an assumed question. The
question or answer should be clear and accurate.

 Is This Answer Correct ? 4 Yes 6 No
Krushna

Re: What is the difference between input vat & out put vat?
# 4
I made a calculation mistake toward Input vat & Output Vat

Mr Bharat is right

 Is This Answer Correct ? 2 Yes 3 No
Shishu Pal Singh

Re: What is the difference between input vat & out put vat?
# 5
Sishupals calculator did a mistake. instead of 4% 40% was
taken in both the cases

 Is This Answer Correct ? 2 Yes 1 No
Guduri

Re: What is the difference between input vat & out put vat?
# 6
Concept of Input Vat and Output Vat
Case 1
Mr.A purchase the goods Rs 1100 and vat is 100 again that
goods sold my me to Rs 2200 and Out put tax 200

In the above case 1, Out put 200 and input vat 100. so Mr.A
paid 100 tax

 Is This Answer Correct ? 5 Yes 2 No
Vijaya Kumar

Re: What is the difference between input vat & out put vat?
# 7
Input Vat means the tax imposed on purchase. (which already
taken by the seller)
and similarly out vat means the tax chargred on selling

if the input vat is Rs. 100 and out put vat is Rs. 125 the
vat will be paid (Rs. 125- Rs. 100)Rs. 25/- to the
respective department

 Is This Answer Correct ? 4 Yes 2 No
Susanta Kundu

Re: What is the difference between input vat & out put vat?
# 8
hi friends, my answer here is if we purchases a computer
rs25000 and vat rate is 14.5%. then total amount is
rs28625.and now we are going to sell the same computer
rs30000 and output vat is 4350.so the difference between
input vat and output vat is rs34350-rs28625.the very
difference is rs 5725.that amount should have to pay to the
govt.

 Is This Answer Correct ? 1 Yes 7 No
M Shasha Vali

Re: What is the difference between input vat & out put vat?
# 9
as shishupal posted answer in that example he did an
calculattion mistake

i.e.,
purchase 2000+ input tax@4% 80 = 2080 (total cost)

sold 3000+ output tax@4% 120 = 3120 (total collected from
customer)

vat payable = output vat - input vat
=120 - 80 = 40

total profit = 3120-40-2080 = 1000 RS

 Is This Answer Correct ? 1 Yes 0 No
Praveen.ysd