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N

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Minita replied | 21 Nov

Tax charged on inter state sale of goods

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Meera replied | 2 days ago

Tax paid to the governing body for sale of goods or services.

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B

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Susant replied | 23 Nov

Value added tax

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Abhijeet Kumar replied | 3 days ago

Value Added Tax.

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Answer

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T

Taj 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

Find the marked price of a motorbike which is bought at $ 36300 after paying a sales tax at the rate of 10%?

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R

Rai replied | 3 days ago

$33000 is marked price .
$3300 is sales tax .

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Saurabh replied | 2 days ago

Sales tax is always charged on selling price. Therefore, 36300/1.1 = Rs. 33,000.

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A

Aravind 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

What is the formula for calculating the sales tax?

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Sourav replied | 3 days ago

To calculate the sales tax that is included in a company's receipts from items subject to sales tax, divide the receipts by 1 + the sales tax rate. For example, if the sales tax rate is 6%, divide the total amount of receipts by 1.06. If the sales tax rate is 7.25%, divide the total receipts by 1.0725.

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Saurabh replied | 2 days ago

To calculate sales tax in company receipts then just divide the entire receipts divided by (sales rate plus 1).
For eg.:- If a company sells TV for Rs 21,000. If sales tax is 5%. then C.P of TV will be Rs. 21,000 / 1.05 = Rs. 20,000.

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U

Udaybhan 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

A refrigerator is marked for sale at Rs. 17600 inclusive of sales tax at the rate of 10%. Calculate the sales tax on the refrigerator?

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Saurabh replied | 2 days ago

Sales tax = Marked price / 1 + Sales tax rate.
Therefore, 17600 / 1+ 10 = Rs. 1600.

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N

Nandita 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

A shopkeeper sells an article at its marked price Rs. 7500 and charges sales-tax at the rate of 12% from the customer. If the shopkeeper pays a VAT of Rs. 180. Calculate the price inclusive of tax paid by the shopkeeper?

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D

Dinnu replied | 3 days ago

See the picture.

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S

Suresh 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

John bought a printing machine for Rs. 5136, which includes sales tax. If the listed price of the printing machine is Rs. 4800. What was the rate of sales tax?

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Nitish replied | 28 Nov

Amount of Sales Tax = 5136-4800 = 336
Rate of Sales Tax = (336/4800 )X100 = 7%

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Rajendran replied | 29 Nov

Buying Price of printing machine = Rs. 5136,00
listed price of printing machine = Rs. 4800.00
sales tax paid = Rs (5136 - 4800) = Rs. 336
Rate of sales tax = (336/4800) * 100 = 7%

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G

Ganesh 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

What is the difference between sales tax and VAT?

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Nitish replied | 28 Nov

Sales tax, as compared to VAT is the percentage of revenue imposed on the retail sale of goods. Unlike VAT, sales tax is levied on the total value of goods and services purchased. VAT is an indirect tax that is imposed on each stage of production of an item.

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S

Saritha 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

Dinesh bought an article for Rs 374, which included za discount of 15% on the marked price and a sales tax of 10% on the reduced price. Find the marked price of the article?

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Muhammad Nisaj replied | 20 Nov

Bought Price = 374
Bought price included 10% tax
So Bought price = Reduced price + 10% sales tax
Let R is the reduced price
So bought price=374=R+10 % of R
=R x 1.1
Therefore R=374/1.1= 340
discount is 15 %. That means reduced price is 85% of marked price. Let M be the marked price
R= 85 % of M
R=0.85M
M=R/0.85
=340/0.85=400

The...  more»
Bought Price = 374
Bought price included 10% tax
So Bought price = Reduced price + 10% sales tax
Let R is the reduced price
So bought price=374=R+10 % of R
=R x 1.1
Therefore R=374/1.1= 340
discount is 15 %. That means reduced price is 85% of marked price. Let M be the marked price
R= 85 % of M
R=0.85M
M=R/0.85
=340/0.85=400

The Marked price of the article is found to be Rs 400. «less

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Anil replied | 20 Nov

Marked price x: 85 x 1.1= 374

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R

Ratna 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

A shopkeeper buys an article at a rebate of 30% on the printed price. He spends Rs 40 on the transportation of the article. After charging sales tax at the rate of 7% on the printed price, he sells the article for Rs. 856. Find his profit percentage?

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Dh replied | 5 days ago

Let the Printed Price = Rs. P
Shopkeeper buys at rebate of 30%
Hence Cost price for Shopkeeper = Rs. 0.7*P
Spends for transportation = Rs. 40
Now his cost price -- Rs. 0.7*P + 40
Now his final selling price = Rs. 856
Sales Tax charged at 7% on Printed Price
Hence Sales Tax = 0.07*P
Thus Selling Price = Printed Price + Sales Tax
856 = P + 0.07P
856...  more»
Let the Printed Price = Rs. P
Shopkeeper buys at rebate of 30%
Hence Cost price for Shopkeeper = Rs. 0.7*P
Spends for transportation = Rs. 40
Now his cost price – Rs. 0.7*P + 40
Now his final selling price = Rs. 856
Sales Tax charged at 7% on Printed Price
Hence Sales Tax = 0.07*P
Thus Selling Price = Printed Price + Sales Tax
856 = P + 0.07P
856 = ( 1 + 0.07) * P
856 = 1.07 * P
Thus, P = 856 / 1.07.
P = Rs. 800
Cost Price for Shopkeeper = 0.7*P + 40
0.7 * 800 + 40
560 + 40
Rs. 600
Hence, the Profit the shopkeeper has made is
800 – 600 = Rs. 200
Thus, Profit percentage = Profit / Printed Price
=200/800
=1/4 = 0.25 = 0.25 * 100 = 25%. «less

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P

Prakash 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

What is the formula for calculating VAT?

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Khushbu replied | 5 days ago

Calculating the car is the base cost of an item multiplied by the appropriate vat rate for the item.example-if an item costs$100 vat rate of 20% the vat calculation is 100*20/100=20.

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S

Sridevi 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

A manufacturer buys raw goods for Rs 4500 and pays 10% tax. He sells the ready stocks for Rs 9000. Find the VAT paid by manufacturer?

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Soumajit Sur replied | 25 Nov

Input VAT paid by manufacturer is = (4500 * 10%) =Rs.450
Output VAT collected by manufacturer is = (9000 * 10%) = Rs. 900 (Assuming same rate of tax for output and Input)
Net amount of VAT to be paid by manufacturer = (900 - 450) = Rs. 450

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P

Pankaj 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

Jacob purchased an article for Rs. 702 including Sales Tax. If the rate of Sales Tax is 8%. Find the sale price of the article?

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Akash replied | 24 Nov

=>702= x+(x*8/100)
=>702= (100x+8x)/100
=>702*100 = 108x
=>70200/108 = x
=>650 = x

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K

Karuna replied | 25 Nov

Let cost price of article be x.
So, 8% of Cp= 0.08x
Hence, 1.08x=Rs. 702. x=650. CP is Rs. 650

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Answer

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J

Jacob 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

A manufacturer produces a good which cost him Rs.500. He sells it to a wholesaler at a price of Rs.500 and wholesaler sells it to retailer at a price of Rs.600. The retailer sells it to the customer at a price of Rs.800. If the sales tax charged is 5%. Find the tax charged under VAT by manufacturer, wholesaler and retailer. Find the tax paid by the customer?  more»
A manufacturer produces a good which cost him Rs.500. He sells it to a wholesaler at a price of Rs.500 and wholesaler sells it to retailer at a price of Rs.600. The retailer sells it to the customer at a price of Rs.800. If the sales tax charged is 5%. Find the tax charged under VAT by manufacturer, wholesaler and retailer. Find the tax paid by the customer? «less

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V

Vishal 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

A retailer buys an article from the wholesaler at Rs. 80 and the wholesaler charges a sales tax at the prescribed rate of 8%. The retailer fixes the price at Rs. 100 and charges sales tax at the same rate. Apply value added tax system of sales tax calculation to answer the following questions. What is the price that a consumer has to pay to buy the...  more»
A retailer buys an article from the wholesaler at Rs. 80 and the wholesaler charges a sales tax at the prescribed rate of 8%. The retailer fixes the price at Rs. 100 and charges sales tax at the same rate. Apply value added tax system of sales tax calculation to answer the following questions. What is the price that a consumer has to pay to buy the article and also find the input tax and output tax for the retailer? «less

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Answer

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M

Monica 11 Nov in  Class IX-X Tuition, Mathematics(Class IX-X Tuition), Sales Tax and VAT

If the rate of sale tax increases by 55, the selling price of an article goes up by Rs. 40. Find the marked price of the article?

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