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VAT in Tally

A company purchased 1000 shirts for Rs. 200 per piece totaling Rs. 100,000 from Adil Ltd. with a 4% VAT of Rs. 4,000. The company then sold the shirts to Kavya Enterprise for Rs. 300 per piece totaling Rs. 150,000 with a 4% VAT of Rs. 6,000, resulting in a profit of Rs. 50,000 for the company after accounting for the VAT amounts.

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mahendra nath
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43 views

VAT in Tally

A company purchased 1000 shirts for Rs. 200 per piece totaling Rs. 100,000 from Adil Ltd. with a 4% VAT of Rs. 4,000. The company then sold the shirts to Kavya Enterprise for Rs. 300 per piece totaling Rs. 150,000 with a 4% VAT of Rs. 6,000, resulting in a profit of Rs. 50,000 for the company after accounting for the VAT amounts.

Uploaded by

mahendra nath
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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VAT in Tally

Company has made a purchase of 1000


pcs Shirt @ Rs200 per piece from Adil
Ltd with VAT 4%. And sold it to Kavya
Enterprise @ Rs 300. Do the Entry
How it works?
Purchase @ 100000
VAT @ 4% = 4000

PROFIT @ 150000 LOSS @ 80000


VAT @ 4% = 6000 VAT @ 4% = 3200
Govt Pay – Rs 2000 Govt will Pay – Rs800

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