VAT Settlement Process
Hi All,
Please help to do the vat settlement process as per the below requirement
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| Purchase | 100000 | |
| VAT | 5% | |
| Input Vat | 5000 | A |
| Sales | 500000 | |
| VAT | 5% | |
| Sales Within State | 100000 | B |
| VAT Output | 5000 | C |
| Vat Eligible for settlement | 100000 | |
| Formula (A*B)/C |
How to do the vat settlement process for Purchase and with in state sales.
Thanks in advance
Mohan
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