Farooq Limited (FL) is registered under the Sales Tax Act, 1990. Following are the details of...

 

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Farooq Limited (FL) is registered under the Sales Tax Act, 1990. Following are the details of sales and purchases made during the month of February 2020: B C Local taxable sales to registered person Local taxable sales to unregistered person Zero-rated supplies Considering the above scenario sales tax liability of Farooq Limited (FL) for the month of February 2020 is A Rs. 1,105,000 D Exempt supplies Purchases from registered supplier Rs. 756,053 Rs. 498,947 Rupees 1,500,000 5,000,000 2,500,000 500,000 6,500,000 Rs. 150,000 Farooq Limited (FL) is registered under the Sales Tax Act, 1990. Following are the details of sales and purchases made during the month of February 2020: B C Local taxable sales to registered person Local taxable sales to unregistered person Zero-rated supplies Considering the above scenario sales tax liability of Farooq Limited (FL) for the month of February 2020 is A Rs. 1,105,000 D Exempt supplies Purchases from registered supplier Rs. 756,053 Rs. 498,947 Rupees 1,500,000 5,000,000 2,500,000 500,000 6,500,000 Rs. 150,000

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Sales Tax Liability Total Taxable Sales x Sales Tax Rate Input Tax Credit Total Taxable Sale... View the full answer