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i want basic formula to find vat 4% from the total bill
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Answer / suresh kumar
Total Bill Amount =5202/-
At first we have to find out the Bill amount excluding Tax.
ie. (5202/104.04)x100 = 5000/-
Vat = 5000x4% = 200/-
Cess = 200x1% = 2/-
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Total Bill Amount = 5202/-
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| Is This Answer Correct ? | 27 Yes | 8 No |
Answer / mithunsharma28
now see
the bill is rs 10000/-
thats the viberficaion of rs 10000 is divided by 1.04
thats value is 9615.38
value is 9615.38
vat @4% is 384.62
total is 10000/-
| Is This Answer Correct ? | 11 Yes | 6 No |
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
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / madhuri
To know the tax amount from total bill amount
Formula is = BillAmount*Rate of vattax/100+Rate of vattax.
example= Bill Amount is 10400
& Rate of Tax is 4%
10400*4/100+4 = 400 is Vat Tax
400- 10400 = 10000 is assessable value
| Is This Answer Correct ? | 8 Yes | 5 No |
Answer / sharyanch
Bill Amount = Rs.1000
VAT 4% = Rs. 40
VAT 4% = 1000 x 4 / 100
Total Value = Rs.1040 including VAT.
| Is This Answer Correct ? | 11 Yes | 8 No |
Answer / naveenraju50@gmail.com
ALLWAYS TAX WILL BE CALCULATED ON ASSESSABLE VALUE
| Is This Answer Correct ? | 5 Yes | 3 No |
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