If Sales is Rs 1000 (Inclusive of Vat), Vat Rate - 20%, What
is Vat Payable?
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Answer / sanjay kapoor
If Sales is Rs 1000 (Inclusive of Vat), Vat Rate - 20%, What
is Vat Payable?
Vat Payable = 1000*20/120=Rs 166.6667
| Is This Answer Correct ? | 22 Yes | 2 No |
Answer / molabanti
sales is 1000 inclusive of vat means its = to 120%
now 120%----1000
20%----- ?
20*1000=20000/120=166.67
vat 166.67
sales 833.33 (excluding vat)
total 1000 including vat
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / maqbool ahmed
1000*20/100
166.67 vat payable
833.33 is sales (execulding vat)
the total sales for 833.33 and vat payable 166.67
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / mohammed fareed
Sales Rs. 1000/- inclusive of taxes
VAT @ 20%
therefore : sales + vat = total sales
In numbers: 100 + 20 = 120
i.e vat = 1000*20/120 = 166.67/-
sales=1000*100/120= 833.33/-
IF sales is exclusive of taxes:
Rs.1000*20%= Rs.200/-
| Is This Answer Correct ? | 2 Yes | 0 No |
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