Answer / manoj

TOTAL SALES VAT- TOTAL PURCHASE VAT

Answer / guest

Total Sales Vat - Total Purchase Vat

Answer / 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.

Answer / pankaj

OUTPUT VAT - INPUT VAT

Answer / atul nema

Hi,

Determination of VAT has a following proceedings:
Firstly from Gross Turnover reduce ISS sales,Export
sales,Depot Transfer, Sales Return within 6 months,Labour
expenses and profit component part of the sales.

By the above calculation Taxable turnover comes out.
From Taxable Turnover bifurcate the sales into different
commodities rate. calculate the output vat from these
bifurcated turnover.

Gross VAT comes out shall be reduced by the input vat, if
positive result comes out it would be the ultimate vat
liability.

What is the full form of TDS & TCS

30 Answers   CMC, TCS, Vinraj Steels,

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0 Answers  

What is meant by CST? What is use of that? Does we use the one state CST certificate to all over India? or else Will we apply CST for each and every state?

2 Answers  

Provision for Service tax, Income tax and Sales tax

0 Answers   FSS,

if the sales are completely credit based(6 months)..how can we enter in the current month VAT 200 form?

1 Answers  

what mean by tds on vat?

3 Answers  

last financial year'2007-08 i have not deposit TDS amount till today. can i deposit TDS amount now with interest. please advise me.

6 Answers  

Party had Invoice forward Material & Service combine Bill raise & Service tax service amount on 10.30% raise so that it is service tax is right claim yes Or No.i have confused this invoice, i have TDS deduction and how persentage Deducted Pl reply

2 Answers   Adani,

if we are going to get the refund afterwards so why we should pay in advance the excise duty? if the excise duty paid in advance then what are the benifits for the company?

1 Answers  

what is the difference b/w deferred tax exp and defeered tax liab? should Deffered Tax expense be deducted b4 computing Net profit?

0 Answers  

is WCT applicable one time? and what will be rate of WCT in UP State?

0 Answers   Afcons, Vikas,

how can i(accoutant) file tds,vat,service tax,salestax,business it returns?

2 Answers   Biotavia, GMG, Hot Brands,