i want basic formula to find vat 4% from the total bill
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Answer Posted / bhaskar
MATERIAL BASIC VALUE IS 10000
THEN YOU CALCULATE DUTY-10% ED CESS-1%,SH CESS-1% AND VAT-4%
IF MATERIAL IS EXCISABLE MATERIAL VAT CALCULATION IS HERE UNDER
MATERIAL BASIC VALUE=10000
DUTY
10000*10%=1000
CESS
1000*2%=20
1000*1%=10
TOTAL VALUE OF MATERIAL=11030
THEN AFTER YOU CALUCULATE VAT LIKE HERE UNDER
VAT-11030*4%=441
IF THE MATERIAL IS NON-EXCISABLE THE VAT CALCULATION IS HERE
UNDER.
BASIC VALUE-10000
VAT-10000*4%=400
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