vat calculation
This query is : Resolved
12 February 2011
Hello sir
I would like to know how calculate vat return on cash sales
I would like to know how calculate vat return on cash sales
12 February 2011
Hi
if the sales is incusive of tax you need to do reverse cal i.e.
for ex :100/- is sales therefore 100*100/104= answer.(basic price)
4 means 4% VAT.
or if it is exclusive of tax
100 * 4% = answer
if the sales is incusive of tax you need to do reverse cal i.e.
for ex :100/- is sales therefore 100*100/104= answer.(basic price)
4 means 4% VAT.
or if it is exclusive of tax
100 * 4% = answer
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