Answer Posted / gulzar

Vat is difference Between tax on Sales(Out Put Vat) and tax on purchases ( vat input).

Let's understand with this example.

suppose you purchased goods (Rs 100 + vat rs.12.5 )= 112.5
in this purchase the actual cost is Rs. 100 and Rs. 12.5 is Vat ( Vat Input credit).

Sale pries of goods ( Rs. 150 + Vat Rs 18.75 ) = 168.75
on this sales tax paid Rs 18.75

Vat = 18.75 -12.5 = 6.25

hi,when i am posting an entry on service tax it is not showing the business area.please guide me how to configure the business area so that the entry also shows the business area.please help as i need to configure it.

2142

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Any body tell me about VAT (Karnataka)shortly because, iam reading vat book but iam not able to understand that. if any body tell me shortly about karnataka vat, retursn, tax collectng, tax payment, CENVAT utilizing etc. pleseeeeee

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