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Tn vat reg

(Querist) 21 March 2014 This query is : Resolved 
Dear Sir,
I need to clarify a doubt regarding ITC reversal under TN Vat.

i.e.
a)M/s. Jaya Traders purchased the goods @ 5% for Rs.105000 (incl Vat)

b)They have Purchased some goods @ 14.5% for Rs.114500(incl Vat)

Now they sold the same goods @ 2% to other state for Rs.306000(incl CST)

What is their Tax Liability? Pl consider the recend amendment also.
Report Abuse
ajay sethi (Expert) 21 March 2014
commercial query

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