diffeence b/w oupt/input tax

[Former Member]

Experts:-

plz give diffefence between OUT PUT tax and input tax with eg:-( suppose company pay some expencess or some outgoing services or purchase at that time is INPUT tax or other wise any menaing

the same way company is doing some sale or at that time is OUT put tax ( any give small example) for that scanio.

[Former Member · Accepted solution]

When you purchase material or service from a vendor, vendor charges base value (of material / service) and tax, if applicable, in the vendor invoice. This is input tax for you. When you sell something to your customer, you charge tax in the invoice that you give to your customer. This is output tax.