VAT CST BASICS

Tax Practical
Practical VAT CST

Different types of Purchase and Sales

LIST OF PURCHASES

 PARTY NAME TYPE OF TAX RATE AMT TAX TOTAL E CST 2% 500 10 510 J CST 5% 1000 50 1050 TOTAL CST Purchases 1500 60 1560 C VAT 0% 100 0 100 D VAT 5% 2000 100 2100 F VAT 5% 400 20 420 G VAT 12.50% 800 100 900 H VAT 5% 600 30 630 I VAT 12.50% 400 50 450 TOTAL Local Purchases 4300 300 4600

LIST OF SALES

 PARTY NAME TYPE OF TAX RATE AMT TAX TOTAL K CST 5% 600 30 630 L CST 2% 1000 20 1020 N CST 12.50% 1200 150 1350 Q CST 5% 400 20 420 S CST 0% 100 0 100 TOTAL CST Sales 3300 220 3520 M VAT 5% 1200 60 1260 O VAT 0% 600 0 600 P VAT 12.50% 1600 200 1800 R VAT 0% 900 0 900 CASH VAT 5% 400 20 420 TOTAL VAT Sales 4700 280 4980

Suppose there is opening vat credit of 50

What is Vat/Cst Payable?

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 Vat Computation Amt CST Computation Amt Output Vat 280 Output CST 220 Input Vat 300 Vat Payable 0 CST Payable 220 or Vat Credit 20 Add Less Operning vat credit 50 Adjust against Cst 70 total vat credit 70 Balance CST Payble 150 Less Adjust against Cst 70 Balance Vat Credit 0

-ea-

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