What is the difference between input vat & out put vat?
- 11 Answers
- 53754 Views
- I also Faced
- E-Mail Answers
Answer Posted / praveen.ysd
as shishupal posted answer in that example he did an
calculattion mistake
i.e.,
purchase 2000+ input tax@4% 80 = 2080 (total cost)
sold 3000+ output tax@4% 120 = 3120 (total collected from
customer)
vat payable = output vat - input vat
=120 - 80 = 40
total profit = 3120-40-2080 = 1000 RS
| Is This Answer Correct ? | 17 Yes | 6 No |
Post New Answer View All Answers
Anyone whose sbi interview has been over , please share all the question asked by them
how to prepare mba finance for interview questions
Give a brief explanation of the fundamental accounting concept of prudence
What are Mortgage Payment Problems?
after directing tally 9 to calculate interest as per 30 day option basis on a loan account.........,it still calculates interest as per calender month when checked on to display>statements of accounts>interest payable in tally 9 ...where is the error?? how to correct the function.
HOW TO PASTE MORE THAN 8 PO'S (PURCHASE ORDER) IN MM posting?
EXPAND___________LNG
how do you prepare the mis reports and prepare the one example report stating your accounts department proforma
Define the word Profit in terms of business
what are Equity shares,Preference shares,Bonus shares,Bond,Debentures,Dividend?
What is the procedure to take loan
Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
We can add the no. of increase in shares due to exercise of the options.Why diluted eps is calculated separatey?
how to entery pass in tally when items damage(items insured)and claim to insurance co.
Why in partnership fundamental question will add Partnership salary for the year and per month salry add in the cr. Side of the p/l app a/c
