Advertisements
Advertisements
प्रश्न
In the tax period ended March 2015, M/S Hari Singh & Sons purchased floor tiles worth ₹ 800000 taxable at 7.5% and sanitary fittings worth ₹ 750000 taxable at 10%. During this period, the sales turnover for floor tiles and sanitary fittings is worth ₹ 840000 and ₹ 920000 respectively. However, the floor tiles worth ₹ 60000 were returned by the firm during the same period. Calculate the tax liability (under VAT) of the firm for this tax period.
Advertisements
उत्तर
Cost of floor tiles = ₹ 800000
Rate of tax = 7.5%
= `(15)/(2)%`
∴ VAT
= `(800000 xx 15)/(100 xx 2)`
= ₹60000
Cost of sanitary fittings = ₹750000
Rate of VAT = 10%
Total VAT
= ₹`750000 xx (10)/(100)` = ₹75000
∴ Total input
= ₹60000 + ₹75000
= ₹135000
On the sale of floor tiles for = ₹840000
Rate of VAT = `(15)/(2)%`
Total VAT
= `840000 xx (15)/(100 xx 2)`
= ₹63000
and on sale of sanitary fittings = ₹920000
Rate of VAT = 10%
∴ Total VAT
= `₹920000 xx (10)/(100)` = ₹92000
Total input tax
= ₹63000 + ₹92000
= ₹155000
Return of floor tiles worth
=₹60000
Liability of tax of the firm
= 155000 – (135000 + 4500)
= ₹155000 – ₹139500
= ₹15500.
संबंधित प्रश्न
A manufacturer marks an article for Rs. 5000. He sells it to a wholesaler at a discount of 25% on the marked price and the wholesaler sells it to a retailer at a discount of 15% on the marked price. The retailer sells it to a consumer at the marked price and at each stage, the VAT is 8%. Calculate the amount of VAT received by the government from:
(1) the wholesaler,
(2) the retailer.
Q
[missing]
Q
Savita purchased an almirah for Rs. 4536 including sale tax. If the list price of the almirah is Rs. 4,200, find the rate of sale tax charged.
A shopkeeper bought a washing machine at a discount of 20% from a wholesaler, the printed price of the washing machine being Rs. 18,000. The shopkeeper sells it to a consumer at a discount of 10% on the printed price. If the rate of sales tax is 8%, find:
(i) the VAT paid by the shopkeeper.
(ii) the total amount that the consumer pays for the washing machine.
A manufacturing company sells a T.V. to a trader A for ₹ 18000. Trader A sells it to a trader B at a point of ₹ 750 and trader B sells it to a consumer at a profit of ₹ 900. If the rate of sales tax (under VAT) is 10%, find
(i) the amount of tax received by the Government.
(ii) the amount paid by the consumer for the T.V.
A retailer purchases a fan for ₹ 1200 from a wholesaler and sells it to a consumer at a 15% profit. If the rate of sales tax (under VAT) at every stage is 8%, then choose the correct answer from the given four options
VAT paid by the wholesaler is
A retailer purchases a fan for ₹ 1200 from a wholesaler and sells it to a consumer at a 15% profit. If the rate of sales tax (under VAT) at every stage is 8%, then choose the correct answer from the given four options
VAT paid by the retailer
A shopkeeper bought a TVfrom a distributor at a discount of 25% of the listed price of ₹ 32000. The shopkeeper sells the TV to a consumer at the listed price. If the sales tax (under VAT) is 6% at every stage, then choose the correct answer from the given four options :
VAT paid by the distributor is
