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

 No Input of Service Tax for Vat Dealers

This is because Service Tax is under Central Government and Vat under State Government

  1. Tax Practical
  2. Practical VAT CST

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 9 years. He also provides Accounts Tax GST Training in Delhi and Pune.