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I Need Full details about calculating value added tax ?
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Answer Posted / gulzar
Vat is difference Between tax on Sales(Out Put Vat) and tax on purchases ( vat input).
Let's understand with this example.
suppose you purchased goods (Rs 100 + vat rs.12.5 )= 112.5
in this purchase the actual cost is Rs. 100 and Rs. 12.5 is Vat ( Vat Input credit).
Sale pries of goods ( Rs. 150 + Vat Rs 18.75 ) = 168.75
on this sales tax paid Rs 18.75
Vat = 18.75 -12.5 = 6.25
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Dear Experts, I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax. Here are the examples with expected result. Please let me know the formula on how to get the given result. Example1: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2 Expected Results are: Tax1=76.34 Tax2=83.97 Tax3=76.34 Let me know formula to derive above values? Example2: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 Expected Results are: Tax1=75.70 Tax2=83.27 Tax3=84.03 Please let me know formula to derive above values? Thanks in advance.
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