cpc

how to transfer commodities converted 12.5% from 4% vat


sir

     i want to know, how to transfer that stock in the balance sheet which transfered in to 12.5% vat from 4% vat

kindly give the answer i m wating for ur reply

 
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Mr. Tarun,

VAT is payable on the sale value of the goods at the rate fixed by the statute. In the case of misinterpretation or classification in respect of tax rate, explain the same with  reconciliation  and reasons for such mistake. 

 
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