Interested to Buy Any Domain ? << Click Here >> for more details...
whether sale and purhases of cf agent are his and he is
liablte to pay VAT on sale of goods and pay the tax to govt
collected by him one more being receiving commission of
saleproceed during the year whose stock would be it it is of
c f agent or principal manufctrurer who has send the goods
to sold on his behalf
- 1 Answers
- 1926 Views
- I also Faced
- E-Mail Answers
Answer Posted / Mohit
The sale and purchase of CF agents, as well as the collection of VAT and payment to the government, can have different implications depending on the specific circumstances. If the individual is acting as an agent for a principal manufacturer, they may be responsible for collecting VAT from customers and remitting it to the government. However, whether they are liable to pay VAT on the sale of goods or entitled to receive commission depends on various factors such as tax registration status, contracts with the manufacturer, and applicable laws.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.
As you know account executives need to be talented salespeople. Do you have experience making sales?
What is your greatest achievement and why?
What qualities have you got that would make you a good accountant?
a.what products does your firm produce? b.what costs are asssigned to the product produced? c.for particular product,what direct materials are used? d.what percentage of total manufactoring costs is direct labor? direct materials?overhead? e.how is overhead assigned to the products? f.do you now use or plane to use an activity_based management system?why or why not?
Explain a time when you have not met your goal?
formula of reduction in tax credit of vat form 201(gujarat)
Please provide me the entire format of P.F. & ESI
Why did you choose the a-levels you did?
Calculate the missing figures for company A. A Sales (TSR) (a) Total Variable Costs (TVC) (b) Total Fixed Costs (TFC) $24,000.00 Profit $0.00 Units Sold 1,000.00 Contribution Margin Per Unit (CMU) (c) Contribution Margin Ratio (CMR) (d) Break-Even Point (BEP) (Units) (e) Break-Even Point (BEP) (Dollars) $60,000.00
WHICH QUESTIONS ASKED IN EPFO IN 2009.
Have you ever made mis reports and what are they?
Tell me an example of a tough decision that you had to make?
describe any accounting process that you have developed or revised
How to get C forms in online? Plz give me Processor Thanq
