Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / hr sreepada bhagi
VAT on Sales should be calculated by multiplying the basic
value of the products in the Sales Invoice by the rate of
VAT for those products mentioned in the Schedule to VAT Act.
If any Surcharge or Cess is applicable on basic VAT,
calculate it by multiplying the VAT by the rate of Surcharge
or Cess.
While remitting, deduct the VAT credit on purchases during
the period from the VAT collected (including
Surcharge/Cess). In other words, Amount to be remitted to
the Govt. is the excess of VAT collected over Input VAT
credit : i.e.
VAT on Sales - VAT on Purchases = Amount to be paid to Govt.
| Is This Answer Correct ? | 8 Yes | 1 No |
Post New Answer View All Answers
If any body have knowledge for vacate position for the post of Accountant kindly mail me verma_moti@yahoo.co.in (handling Accounting upto finalisation,Sales tax/vat,TDS,Service Tax,Excise tax and MIS.
What is the procedures for withdrawing of form C?
what is the case assesment of sales tax and vat.What is the proof of this case assesment.why we use the challan-c...???? Plz tell me someone...???
How can I Proceed to my client regarding Advertisement Bill as we are dealing in advertising agency and also clear us can we deduct TDS on their bill? For Example we receive a bill from The Sandesh Ltd. of Rs. 50000/- and they do not mention service tax in the bill. So, Kindly provide the Guidelines regarding This Problem.
How to calculate entry tax ??(In karnataka) Pls advice me complete computation details.
what do u meant by investment banking
Beginning Balance, Dec. 31, 20xx Creditable Income Tax 211,829.00 Income Tax Payable (132,808.00) > Balance 79,021.00 ITR (1st Quarter) - Jan. 31, 2016 - Mar. 31, 20xx Normal Tax (30% of Taxable Income) 2,205.02 MCIT (2% of Gross Income) 7,865.71 Aggregate Income Tax Due (Normal Tax vs. MCIT whichever is hihger) 7,865.71 Less: Tax Credits/Payments Prior Years Excess Credits 79,021.00 Creditable Tax Withheld - 79,021.00 Tax Payable, per return (71,155.29) What should be the entry in my book to record the above transactions? Thank you!
how to caluclate the mumbai tax with example? what is mean by credit and debit ?
procedure of service tax
What is the maximum amount to issue Form C to a dealer for the purchase of 40 crores in several bills in a quater?
due date for issue of C form, if c form is not issue what will be the consequences
Rules for filling Income Tax return for a domestic manufacturing company.
Is there any criteria for percentage define of TDS rates? and What is the major advantage of introducing DTC and GST by Central Govt?
What is meant by Cost of Improvement?
HOW TO FILE RETURN- SALARIED PERSON GETTING SALARY 6 MONTH FROM ONE & 6 MONTH ANOTHER COMPANY
