Question

formula of GST and VAT​

Answer 1

Answer:

GST calculation can be explained by simple illustration : If a goods or services is sold at Rs. 1,000 and the GST rate applicable is 18%, then the net price calculated will be = 1,000+ (1,000X(18/100)) = 1,000+180 = Rs. 1,180

Output VAT = It is a tax charged on the sale of goods. It is charged on the selling price of the goods. Input VAT = It is the tax paid on the purchase of goods. It is paid at the cost price of the goods

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