If Sales is Rs 1000 (Inclusive of Vat), Vat Rate - 20%, What
is Vat Payable?
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Answer Posted / molabanti
sales is 1000 inclusive of vat means its = to 120%
now 120%----1000
20%----- ?
20*1000=20000/120=166.67
vat 166.67
sales 833.33 (excluding vat)
total 1000 including vat
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