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

what is excise

2242

---

From Karnataka,while sending material out, which are all the states required Form 38?

2060

---

if i paid interest on tds for ex:- tds deducted on rent for the month of april, may, june rs. 20000 each for month and tds paid on 7th july then i have to pay interest @ 1.5% for rs. 1200 , 900 , 600 respectively , so i wanted to know what is the entry for rising of this interest in accounting software other than tally

1432

---

What is VAT TDS? when it is applied & at what rate?

1662

---

if the goods are purchased against H Form, is there any specified time limit winthin which they should be exported?; if yes then wat is that limit?

5338

---

I want to know how to calculate VAT / WCT Liability under composition scheme and regular scheme at Karnataka

2205

---

If anybody have knowledge about opening for the post of accountant(for Gurgaon/Delhi) kindly mail me verma_moti@yahoo.co.in. I am handling accounting sales tax/vat,Excise,service Tax,Tds and MIS.

1864

---

How will you calculate house rent allowance (hra)?

1027

---

should we can take modvat benefit any time or they have some limit time to take input benefit claim?

2492

---

Please advise where to enter Income tax paid to Govt. in tally and on which head account to be created///

1940

---

can we take 100% input of contractor service tax billing where service receiver have to pay 50% service tax

1672

---

How many turnover company active TAN no applicable and how many deduction % of service.

1709

---

What is the different between Excise Invoice and Invoice

2032

---

Define deferred tax liability?

1106

---

sir, can you give me clarification briefly how to capitalized and which one capitalized

2087

---