How to compute tax vat, if tax exempted, discount as below
This query is : Resolved
08 July 2012
Total Amount is Rs 100
Tax Exempted Amount is Rs 05 (out of 100)
Special discount is Rs 06 (out of 100)
VAT/CST is @5%
Please give the bifurcation....
It's urgent... pls help
Tax Exempted Amount is Rs 05 (out of 100)
Special discount is Rs 06 (out of 100)
VAT/CST is @5%
Please give the bifurcation....
It's urgent... pls help
10 July 2012
The normal working for calculating VAT is :
Total amount Rs.100.00
Less: Cash/Trade Discount xxx
Less: Special Discount xxx
-----
Net Taxable Turnover xxx
Add : VAT 5% xxx
In your query you have not mentioned the state the query relates. There are certain states, which do not allow any discount except cash/trade discount.
Total amount Rs.100.00
Less: Cash/Trade Discount xxx
Less: Special Discount xxx
-----
Net Taxable Turnover xxx
Add : VAT 5% xxx
In your query you have not mentioned the state the query relates. There are certain states, which do not allow any discount except cash/trade discount.
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