05-05-2010, 09:07 PM
Out put Tax = 1,863,462
<b>Admissible Input Tax</b>
=Input Tax / Total Supplies X Value of Taxable Supplies
=1,296,946 / 21,086,925 X 11646,636
= 716,323
<b>Tax Liability</b>
= Output Tax - Admissible Input Tax
= 1,863,462 - 716,323
= 1,147,138
1,147,138/= Rupees shell be paid with return.
<b>Admissible Input Tax</b>
=Input Tax / Total Supplies X Value of Taxable Supplies
=1,296,946 / 21,086,925 X 11646,636
= 716,323
<b>Tax Liability</b>
= Output Tax - Admissible Input Tax
= 1,863,462 - 716,323
= 1,147,138
1,147,138/= Rupees shell be paid with return.