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  • VAT Calculation

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    Sneha Arora
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    This document shows the profit and loss statement and tax calculation for 3 years. It lists the costs, profits, totals, tax liabilities at 15%, and tax paid and due for each year. In year 1, tax due was 0 as tax paid equaled the liability. In year 2, tax due was 62,000 as tax paid was less than the liability. In year 3, tax credit of 15,500 was unused as tax paid exceeded the liability.

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    This document shows the profit and loss statement and tax calculation for 3 years. It lists the costs, profits, totals, tax liabilities at 15%, and tax paid and due for each year. In year 1, tax due was 0 as tax paid equaled the liability. In year 2, tax due was 62,000 as tax paid was less than the liability. In year 3, tax credit of 15,500 was unused as tax paid exceeded the liability.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    7 views1 page

    VAT Calculation

    Uploaded by

    Sneha Arora
    This document shows the profit and loss statement and tax calculation for 3 years. It lists the costs, profits, totals, tax liabilities at 15%, and tax paid and due for each year. In year 1, tax due was 0 as tax paid equaled the liability. In year 2, tax due was 62,000 as tax paid was less than the liability. In year 3, tax credit of 15,500 was unused as tax paid exceeded the liability.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 1

    m W R

    cost 500000 600000 90000* 760000 152000


    100000 50000
    Profit 100000 60000 100000
    total 600000 760000 910000
    Tax@15% 90000 152000 136500
    690000 912000 1046500
    Tax liab 90000 152000 136500
    Tax paid 90000 90000 90000** 152000
    Tax due 0 62000 -15500 ***

    * Input tax
    ** Input tac Credit
    *** Unavailed Tax credit

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