In case,there are both Vat and CST Sales and purchases,
Both Vat and CST are separately computed
Case 5
Purchases
| A LTD | C LTD | |||
| Purchase | 40000 | Purchase | 50000 | |
| Vat 5% | 2000 | Cst 2% | 1000 | |
| 42000 | 51000 | |||
Sales
| XLTD | Z LTD | |||
| Sale | 60000 | Sale | 120000 | |
| vat 5% | 3000 | Cst 2% | 2400 | |
| 63000 | 122400 | |||
What is vat and cst payable?
View answer
| Vat Computation | |
| Output Vat | 3000 |
| Input Vat | 2000 |
| Vat Payable | 1000 |
| CST Computation | |
| Output CST | 2400 |
| CST Payable | 2400 |