VAT PAYABLE

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..... CAN THE PURCHASE VALUE BE MORE THAN THE SALES VALUE THE RESPECTIVE PURCHASE VAT IS LESS THAN THE OUTPUT VAT. IF THIS IS THE CASE THEN HOW IS VAT PAYABLE - Reply By Ganeshan Kalyani - The Reply = .....

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..... Ms. Yes the purchase value can be more than the sale value and yes the VAT on purchase be less than the VAT applicable on sale. This is so because the rate of VAT is applicable based on the Schedule E .....

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..... ntry of respective VAT Act. In your case the VAT applicable on purchase attracts lesser rate whereas on sale the higher. Hence one cannot corelate logically but has to go through as per rules. Thanks. .....

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..... - VAT PAYABLE - Query Started By: - ramya sriram Dated:- 15-7-2016 Value Added Tax - VAT-CST - Got 1 Reply - VAT and Sales Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, per .....

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..... sonal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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