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Q3
| B LTD | AIRTEL | |||
| Purchase | 60000 | TELEPHONE | 2500 | |
| vat 5% | 3000 | Service Tax 14% | 350 | |
| 63000 | 2850 | |||
| X LTD | |
| Sale | 180000 |
| vat 5% | 9000 |
| 189000 | |
What is Vat Payable?
View Answer| Particulars | Amount |
| Output Vat | 9000 |
| Less | |
| Input Vat | 3000 |
| Vat Payable | 6000 |
No Input of Service Tax for Vat Dealers
This is because Service Tax is under Central Government and Vat under State Government
