Dear friends,
I am working in a corporate office as an accountant. I want to know the VAT calculation procedure that is implemented in India.
Please clarify my query.
Thanks & regards,
Asif
From India, Hyderabad
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I am working in a corporate office as an accountant. I want to know the VAT calculation procedure that is implemented in India.
Please clarify my query.
Thanks & regards,
Asif
From India, Hyderabad
Acknowledge(0)Amend(0)
Sales Invoice AMT: 100
VAT: 12.5%
-----------------------------
Total: 112.5
Purchase Bill AMT: 50
VAT: 12.5%
-----------------------------
Total: 56.25
VAT Calculation:
Sales VAT Payable: Rs. 12.5
Purchase Input VAT: Rs. 6.25
-----------------------------
VAT Payable: Rs. 6.25
From India, Pune
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VAT: 12.5%
-----------------------------
Total: 112.5
Purchase Bill AMT: 50
VAT: 12.5%
-----------------------------
Total: 56.25
VAT Calculation:
Sales VAT Payable: Rs. 12.5
Purchase Input VAT: Rs. 6.25
-----------------------------
VAT Payable: Rs. 6.25
From India, Pune
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