Tuesday, November 15, 2011

Andhra pradesh commercial taxesVAT Monthly Sales Tax Returns - Input Tax Credit and Output Calculations.

Type : 1







Input Tax Credit Calculations.
Description
 Value excluding VAT
 VAT Claimed

Exempt or non - creditable purchases
         1,200,000
                               -  
(Not eligible to Claim)
4% Rate Purchases
             180,000
                        7,200

5% Rate Purchases
             230,000
                     11,500

14.5 % Rate Purchases
             820,000
                   118,900

1 % Rate Purchases
                  3,000
                              30

Special Rate Purchases
               23,000
                               -  
(Not eligible to Claim)
Total Amount of Input Tax (Total Claimed Value)

                   137,630





Output Tax Calculations.
Description
 Value excluding VAT
 VAT Claimed

Exempt sales
         1,500,000
                               -  

Zero rate sales - International exports
             300,000
                               -  

Zero Rate Sales - Other (CST Sales)
             113,500
                               -  

Tax due on purchases of goods
                         -  
                               -  

4% Rate Sales
         1,870,000
                     74,800

5% Rate Sales
               20,000
                        2,900

14.5% Rate Sales
             157,000
                        7,850

Special Rate Sales
                         -  
                               -  

1% Rate Sales
               12,000
                           120

Total amount of output Tax

                     85,670

Total Payble

           51,960
 (Total Input - Total Output)




You Can pay Tax Rs. 51,960 /-







Type : 2







Input Tax Credit Calculations.
Description
 Value excluding VAT
 VAT Claimed

Exempt or non - creditable purchases
         1,800,000
                               -  
(Not eligible to Claim)
4% Rate Purchases
             280,000
                     11,200

5% Rate Purchases
             135,000
                        6,750

14.5 % Rate Purchases
             258,100
                     37,425

1 % Rate Purchases
                  8,000
                              80

Special Rate Purchases
               53,200
                               -  
(Not eligible to Claim)
Total Amount of Input Tax (Total Claimed Value)

                     55,455





Output Tax Calculations.
Description
 Value excluding VAT
 VAT Claimed

Exempt sales
             235,400
                               -  

Zero rate sales - International exports
             184,600
                               -  

Zero Rate Sales - Other (CST Sales)
             235,400
                               -  

Tax due on purchases of goods
                         -  
                               -  

4% Rate Sales
         1,870,000
                     74,800

5% Rate Sales
               20,000
                        2,900

14.5% Rate Sales
             157,000
                        7,850

Special Rate Sales
                         -  
                               -  

1% Rate Sales
               18,000
                           180

Total amount of output Tax

                     85,730

Total Payble

         (30,276)
 (Total Input - Total Output)








After adjusting input tax credit against the output tax payable under the VAT if there is any balance of tax credit, such credit shall be adjusted against the CST payable
OR



Negative balance of input tax credit carried forwarded to next tax period

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