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1> how can calculate tax for provide service?
2> how can calculate vat for selling product?

Question Posted / irm

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1> how can calculate tax for provide service? 2> how can calculate vat for selling product?..

Answer / irm


Give me all details on my maild id

in tally how can solution above that question
Plese give me all details

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1> how can calculate tax for provide service? 2> how can calculate vat for selling product?..

Answer / anuj

VAT can be computed by following three methods
1) Addition Method- Aggregating all the elements of the value added into the product like wages, profits and interest.
2) Subtraction Method- In this method value addition is calculated by the means of difference between total output and total input.
3) Tax Credit Method-  In this method tax paid on purchases is calculated and after seeking credit of such input tax with the amount of tax on sales, the net tax liability is calculated   

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