Interested to Buy Any Domain ? << Click Here >> for more details...
What is the Difference Between Sales Tax and VAT ?
- 8 Answers
- 11748 Views
- I also Faced
- E-Mail Answers
Answer Posted / amit kumar verma
Sales Tax is the percentage of revenue imposed on the retail
of sales of goods Whereas VAT is a form of indirect tax that
is imposed at different stages of production of goods and
services.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Suppose you buy a one-year government bond that has a maturity value of Rs.1000. The market interest rate is 8 per cent. (a) How much will you pay for the bond? (b) If you purchase the bond for Rs.904.98, what interest rate will you earn from this investment?
we are import a cnc machine, we have availed customs duty, CVD & Additional duty credit?
Hi, we are not a VAT register and raised not VAT bill to company for signage material. they are deducting WCT @4%, can anybody help me why they are deducting WCT while i am not a VAT register vendor, as i do not cross threshold limit.
How can you do credit control?
Where a cash discount should be recorded in a journal entry?
HOW DOES THE ROLE OF THE MANAGEMENT ACCOUNTANT COMPLIMENT THAT OF THE FINANCIAL ACCOUNTANT
for giving the salary in terms of cash to an employee for what minimum amount revenue stamp is reqired to paste the vouceher? up to what limited revenue stamp is required?
Explain under what type of account does the unearned revenues fall?
I WRITE GROUP-4 EXAMINATION.I STADIYING INTERMEDET HOW MANY PARSANTEGE OF GROUP-4 EXAMINETIN
The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.
what is the entry to be made for vat when any purchase is made in that bill vat amount is included ?
While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing stock of the previous year. In the previous year, closing stock was valued more by Rs.50,000. As a result (a) Previous year’s profit is overstated and current year’s profit is also overstated (b) Previous year’s profit is understated and current year’s profit is overstated (c) Previous year’s profit is understated and current year’s profit is also understated (d) Previous year’s profit is overstated and current year’s profit is understated
I have deducted Notice pay Rs. 5000/- in which account to be booked the same enty, what is the head for notice pay in profit and loss a/c.
One car company raised an invoice of 30k to its customer, which includes car's price and one year service price of 1600 (cost). They work on 25% margin. How much amount will go to Income statement and B/S?
What was the most difficult deal you had to close?
