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Answer Posted / vikrant
Nature Of Goods Percentage/Rate Of Tax
Alcoholic Liquor 1.0
Timber Obtained Under Forest Lease 2.5
Timber obtained by any other mode 2.5
Tender Leaves 5.0
Other Forest Produce, excluding Tender leaves and Timber 2.5
Scrap 1.0
| Is This Answer Correct ? | 5 Yes | 2 No |
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I have doubt on Input VAT & Output VAT (incoming vat / outgoing vat) I have a HMS software, where we have interface to tally erp. When we import the transactions to Tally from HMS (Hospital Management System) All the purchases what we do for a period, the tax paid on these purchase are showing as out going vat. Similarly when we do the sales of those purchased items through HMS, tax collected from customer is showing as incoming vat. Is these are correct terms what they had mentioned in HMS? Please help me out.
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