1> how can calculate tax for provide service?
2> how can calculate vat for selling product?
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Answer / irm
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Answer / anuj
VAT can be computed by following three methods
1) Addition Method- Aggregating all the elements of the value added into the product like wages, profits and interest.
2) Subtraction Method- In this method value addition is calculated by the means of difference between total output and total input.
3) Tax Credit Method- In this method tax paid on purchases is calculated and after seeking credit of such input tax with the amount of tax on sales, the net tax liability is calculated
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WHAT WE DO FOR SERVICE TAX IF A PURCHASER RAISE A DEBIT NOTE FOR OUR SERVICE BILL. PLEASAE EXPALAIN THE PROCEDURE WITH EXAMPLES
I MR A REGISTER DEALER IN MUMBAI [MAHARASHTRA], I WANT TO PURCHASE GOODS FROM BANGLORE AND DIRECTRY SALE TO HYDRABAND. IN THIS CASE WHO TO MAKE / PREPARE MY SALES BILL IN MUMBAI AND WHICH SALES TAX FORM I WHAT TO ISSUED.
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