Question

In the tax period ended March 2015,M/S hari singh and sons purchased floor tiles worth Rs800000 taxable at 7.5% and sanitary fittings worth Rs750000 taxable at 10%.during this period the sales turnover for the floor tiles and sanitary fittings are worth Rs 840000 & Rs 920000 respectively.the floor tiles worth Rs60000 were returned by the firm during the same period.Calculate the tax liability of the firm for this tax period

Answer 1

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