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
Learn in your speed, with individual attention - Teachoo Maths 1-on-1 Class
