Question

what is the formula of vat​

Answer 1

Answer:

Take the gross amount of any sum (items you sell or buy) – that is, the total including any VAT – and divide it by 117.5, if the VAT rate is 17.5 per cent. ...

Multiply the result from Step 1 by 100 to get the pre-VAT total.

Multiply the result from Step 1 by 17.5 to arrive at the VAT element of the bill.

Answer 2

VAT is not a part of selling price. Although it is calculated on the SP but it is excluded from the SP while calculating profit or loss