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What is the difference between input vat & out put vat?
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Answer Posted / m shasha vali
hi friends, my answer here is if we purchases a computer
rs25000 and vat rate is 14.5%. then total amount is
rs28625.and now we are going to sell the same computer
rs30000 and output vat is 4350.so the difference between
input vat and output vat is rs34350-rs28625.the very
difference is rs 5725.that amount should have to pay to the
govt.
| Is This Answer Correct ? | 5 Yes | 16 No |
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