VAT payable on the sale of goods is ₹6,87,500. The dealer is entitled to avail tax credit on purchase of material costing ₹10,40,000 (inclusive 4% VAT). The net amount of VAT payable by the dealer is —
CS Executive · Tax Laws and Practice · PYQS · December 2016
VAT payable on the sale of goods is ₹6,87,500. The dealer is entitled to avail tax credit on purchase of material costing ₹10,40,000 (inclusive 4% VAT). The net amount of VAT payable by the dealer is —
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: VAT
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