What is the difference between input vat & out put vat?
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Answer Posted / sumit
in above answer shasha miss calculate
on purchase 25000 @14.5 % vat input =3625
on sell 30000 @14.5 % vat out put is =4350
value added tax finally filled =4350-3625=725
margin where as 5000 is profit and 725 is liability against margin of 5000 rs
as vat out put
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