X & Co. purchased goods during the month of January, 2015: (i) ₹1,20,000 at 4% VAT (ii) ₹2,50,000 at 12.5% VAT Sold goods during the month: (i) Sale of ₹3,50,000 at 4% VAT (ii) Sale of ₹3,00,000 at 12.5% VAT The elig
CS Executive · Tax Laws and Practice · PYQS · December 2015
X & Co. purchased goods during the month of January, 2015: (i) ₹1,20,000 at 4% VAT (ii) ₹2,50,000 at 12.5% VAT Sold goods during the month: (i) Sale of ₹3,50,000 at 4% VAT (ii) Sale of ₹3,00,000 at 12.5% VAT The eligible input tax credit and VAT payable for the month is
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: VAT (Value Added Tax)
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