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Can VAT be charged on Annual Maintenance Contracts - Comprehensive?
The VAT may be charged on the Annual Maintenance Contracts. VAT goes under the Comprehensive section of the contract and will be an agreed upon percentage.
What is the percentage of VAT levied in India for electronic goods?
electronic items
What is the percentage of VAT levied in India for mobile phones?
12.5 percent
How do you add V.A.T on excel 2007?
choose where you want to show the vat type = click on the cell you want to add vat to type +0.175* then click on the cell you want to add vat to example - =Z1+0.175*Z1 hope this helps (its a formula by the way!)
Does the net figure include vat?
The net figure typically refers to the amount before any taxes, including VAT (Value Added Tax). Therefore, if a figure is described as "net," it does not include VAT. To find the total amount including VAT, you would need to add the applicable VAT percentage to the net figure. Always check the specific context in which the term is used, as definitions can vary.
How many types of vat?
The types of VAT........ 1 ) INPUT VAT @ 4 % 2 ) INPUT VAT @ 1 % 3 ) INPUT VAT @ 12.5 % 4 ) OUTPUT VAT @ 1 % 5 ) OUTPUT VAT @ 4 % 6 ) OUTPUT VAT @ 12.5 %
What is standard vat?
Value-Added Tax (VAT) is a form of consumption tax that is applied to goods and services at each stage of the production and distribution process. The standard VAT rate refers to the regular, default percentage applied to most taxable goods and services in a given country. Key Features of Standard VAT: Consumption-Based Uniformity International Variation Standard VAT is the main rate of value-added tax applied to most transactions.
Gross of vat and net of vat?
There is no such term as gross of VAT. The amount with VAT is called the gross amount while the net of VAT is the amount after the VAT has been deducted.
How do you calculate vat intput and output?
To calculate VAT input and output, first identify the VAT you paid on purchases (input VAT) and the VAT you charged on sales (output VAT). Input VAT is the tax included in the cost of goods or services acquired for business use, while output VAT is the tax collected from customers on sales. To determine the VAT you owe to the tax authorities, subtract the total input VAT from the total output VAT. If the output VAT exceeds the input VAT, you pay the difference; if the input VAT exceeds the output VAT, you may be eligible for a VAT refund.
How can I reclaim VAT?
To reclaim VAT, you need to be a registered business that has paid VAT on goods or services. You can reclaim the VAT by submitting a VAT return to the tax authorities, detailing the VAT you have paid and the VAT you have charged. This process allows you to receive a refund for the VAT you have paid.
What is VAT output and VAT input?
VAT that is charged by a business and paid by its customers is known as "output VAT" (that is, VAT on its output supplies). VAT that is paid by a business to other businesses on the supplies that it receives is known as "input VAT
Is net of vat is the same with vat inclusive?
vat exclusive
