Interested to Buy Any Domain ? << Click Here >> for more details...
what is mean by vat (value add tax) what is that value, is
it gross amount of purchase/sales, or it net of amount of
pur/sales - on which it will calculated, i need with example
- 3 Answers
- 6044 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / y.n.muralidhar
value add tax means add the tax on total sales/ purchase
value(inclusive of basic price + excise + transport+ other
charges), gross amount will come after adding of the total
cost.
for ex:
basic price = 100.00
excise = 10.30
packing charges = 2.00
transport charges = 5.00
Total amount = 117.30
add Vat@ 12.5% = 14.66
Gross amount = 131.96
Muralidhar.YN
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / s.bhavani
VAT is Value added tax which is payable at the time of sale
by the seller to tax dept and to be collected from the
purchaser on the Gross amount charged. While paying VAT
already paid can be taken as input credit.
Example:
Gross amount charged xxxx
(which includes
all taxes like
Excise duty and
education cess)
VAT payable @ .... % xxxx
(applicable rate for goods)
Less VAT Input Credit xxxx
(paid at the time of
purchase)
Net Payable xxxx
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / guest
VAT is the tax charged on the net amount of sales.
The net amount includes:
1. Cost.
2. Less: Tax paid the a credit of which is taken
3. Margin / Profit.
| Is This Answer Correct ? | 1 Yes | 2 No |
WHER ISFORM D2 USE.
treatment of Service tax and TDS
what is fringe benefit tax
What is LST Number
Should we give C form with Freight, Insurance, P&F after CST?
what is H Form
plzzzzzz help me friend my question is, is the tds of part of income tax and when it deduct from salary and why becose tds is deduct only secoundry primary income like lotory etc..
come'?
What is Form 12A & Form-H and where is applicable.
1. Is TDS asset or Liability ?. 2. Is TCS Asset or Liability ?. 3. Which is Debit side and Which is Credit Side in Balance Sheet ?.
Suppose there is a computer Inst. providing a course abc and the total fees for it is Rs.10000 per annum, now this institute gives the right to another institute to provide facility of that course on behalf of it and the fees amt. is bifercated to Regd. fees Rs. 2500, Exam fees Rs.500 and tution fees Rs.7000,now the former institute gives right to later ins. to take Rs.7000 and says that the amt. of regd. fees and Exam fees i.e Rs. 3000 must be given to it plus service tax, now we have to save the former ins. from paying service tax on Amt. 3000, how can we do this?
Why Tds is not deducted on service tax amount of rent bill(let out for business purpose).
2 Answers Mphasis, VNS Accessories,
Audit 
