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Goods Sold below Purchase Price, VAT + CST

Issue Id: - 108434
Dated: 17-4-2015
By:- mahim dangi

Goods Sold below Purchase Price


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Hello Experts,

Is it possible to sell the goods below purchase price ? If yes, What are the implications of Vat.

For E.g, Goods purchased for Rs, 100/- Vat paid @ 5 % = ₹ 5/- . Total Price ₹ 105/-

Same product is sold for ₹ 50/- Vat @ 5% = ₹ 2.5/- Total Price ₹ 52.5/-

Now can i claim a refund of Excess vat paid of ₹ 2.5/-?

Thanks in Advance

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