input tax

[Former Member]

hi,

for a country which has input tax, when I purhase an item it is liable for input tax.

1) does it mean that no matter who i purchase from whether in the same country or from other countries(some countries no vat), when i purchase i also need to pay the input tax?

2) correct?

item value is 100

input tax 10%

i need to pay vendor 100

inventory 90

input tax 10

thanks

[Former Member]

for purchasing scenario u have to use input taxes.

for sales scenario u have to use output taxes.

regards,

indranil

[Former Member]

Hi,

Here input tax is liable to pay to particular countries tax authorities.

If it input tax then on the behalf of you the vendor is paying to tax authorities for the material you purchase from the vendor.

If the Item value is 100, Input tax is 10%

Then to vendor ---110

Inventory --100

Input tax 10

like that it will you need to distribute the tax & value.

rgds

gsc

[Former Member]

Hi,

For any kind of material purchase , it is the input tax which is to be used.

Thanks & Regards,

Amjad