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A manufacture of furniture sells a sofa set to a retailer for Rs 23000.the retailer, inturn, sells the sofa set to a customer for Rs 29000.find the VAT rate as percent,if the retailer pays Rs520 as VAT
7 answers
Is the VAT based on the cost, or the increase in price?
vat means value added tax
yes, but I don't know the details of how it is calculated.
question has insufficient data
Is the vat calculated on the cost (23,000), like sales tax, or on the increase (6,000)?
yes
,klhk
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