Q4
Purchase Raw Material Internet Bill In Office
| Particulars | Amount | Particulars | Amount | |
| Purchase | 40000 | Internet Charges | 2000 | |
| Excise 12.5% | 5000 | Service Tax @ 14% | 280 | |
| Total | 45000 | ED Payable | 2280 | |
| Vat 5% | 2250 | |||
| Total | 47250 |
Sales Finished Goods
| Particulars | Amount |
| Sales | 120000 |
| Excise | 15000 |
| Total | 135000 |
| Vat 5% | 6750 |
| Total | 141750 |
What is Excise Duty Payable?
-a-
| Particulars | Amount |
| Output ED | 15000 |
| Less | |
| Input ED (Cenvat on Inputs) | 5000 |
| Input Service Tax (Cenvat on Input Services) | 280 |
| Total Cenvat | 5280 |
| ED Payable | 9720 |
What is Vat Payable?
-a-
| Particulars | Amount |
| Output Vat | 6750 |
| Less | |
| Input Vat | 2250 |
| Vat Payable | 4500 |
Note :-
Input of Service tax will be available even if used in office
Q5
Purchase Raw Material Internet Bill In Office
| Particulars | Amount | Particulars | Amount | |
| Purchase | 40000 | Internet Charges | 2000 | |
| Excise 12.5% | 5000 | Service Tax @ 14% | 280 | |
| Total | 45000 | Swachh Bharat Cess @ 0.5% | 10 | |
| Vat 5% | 2250 | Krishi Kalyan Cess @ 0.5% | 10 | |
| Total | 47250 | ED Payable | 2300 |
Sales Finished Goods
| Particulars | Amount |
| Sales | 120000 |
| Excise | 15000 |
| Total | 135000 |
| Vat 5% | 6750 |
| Total | 141750 |
What is Excise Duty Payable?
-a-
| Particulars | Amount |
| Output ED | 15000 |
| Less | |
| Input ED (Cenvat on Inputs) | 5000 |
| Input Service Tax (Cenvat on Input Services) | 280 |
| Total Cenvat | 5280 |
| ED Payable | 9720 |
What is Vat Payable?
-a-
| Particulars | Amount |
| Output Vat | 6750 |
| Less | |
| Input Vat | 2250 |
| Vat Payable | 4500 |
Note:-
Input of Service tax will be available even if used in office
But no input of Krishi Kalyan Cess and Swachh Bharat Cess on Expense Bills
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