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Answered on 29 Mar Tuition/Class IX-X Tuition Tuition/Class IX-X Tuition/Mathematics Sales Tax and VAT

What do you mean by sales tax?

Prashanth reddy

Concept Oriented Classes

For example, if you purchase a new television for Rs. 400 and live in an area where the sales tax is...

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Answered on 29 Mar Tuition/Class IX-X Tuition Tuition/Class IX-X Tuition/Mathematics Sales Tax and VAT

What is the full form of VAT?

Prashanth reddy

Concept Oriented Classes

Value Added Tax:- VAT is local sales tax. It is levied and collected under state laws. VAT has replaced...

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Answered on 05/12/2016 Tuition/Class IX-X Tuition Tuition/Class IX-X Tuition/Mathematics Sales Tax and VAT

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

Chandan Singh

Math Learning In easy Way

Let the price of the refrigerator without sales tax = P. Here, the selling price S = 17600 and the rate...

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Answered on 29 Mar Tuition/Class IX-X Tuition Tuition/Class IX-X Tuition/Mathematics Sales Tax and VAT

What is the difference between sales tax and VAT?

Prashanth reddy

Concept Oriented Classes

VAT is local sales tax. It is levied and collected under state laws. VAT has replaced the earlier sales tax system.

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Answered on 03/12/2016 Tuition/Class IX-X Tuition Tuition/Class IX-X Tuition/Mathematics 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%?

Abhishek Sinha

Commerce Coaching

Let the marked price be $100 hence price after sales tax is $100 +10% =$110. Therefore If the price after...

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Answered on 09/12/2016 Tuition/Class IX-X Tuition Tuition/Class IX-X Tuition/Mathematics 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...

Ankit Pushp

JEE/Board Maths Tutor

Let the Printed Price = Rs. P Shopkeeper buys at rebate of 30% Hence Cost price for Shopkeeper = Rs....

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Answered on 08/12/2016 Tuition/Class IX-X Tuition Tuition/Class IX-X Tuition/Mathematics 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...

Mohamed Fatin Nizami

Tutor

Manufacturer will pay 5% on 500 i.e., 25. Wholesaler will charge 5% on 600= 30. Retailer will charge...

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Answered on 08/12/2016 Tuition/Class IX-X Tuition Tuition/Class IX-X Tuition/Mathematics Sales Tax and VAT

Kylie buys an article for Rs. 10000 and pays 7% tax. He sells the same article for Rs. 13000 and charges...

Mohamed Fatin Nizami

Tutor

For Purchase Kylie will pay 7% on 10000 = Rs. 700 On Sales, he will pay ( 9% on 13000) - 700= 1170-700= Rs. 470.

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Answered on 08/12/2016 Tuition/Class IX-X Tuition Tuition/Class IX-X Tuition/Mathematics Sales Tax and VAT

A retailer buys an article from the wholesaler at Rs. 80 and the wholesaler charges a sales tax at the...

Mohamed Fatin Nizami

Tutor

Price for the customer 100 + 8% VAT = 108 Input Tax for retailer = 8% on 80 = 6.4 Output Tax = 8% on (100-80) = 1.6.

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Answered on 06/12/2016 Tuition/Class IX-X Tuition Tuition/Class IX-X Tuition/Mathematics 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...

Akshay Gupta

Math Magician

55%= Rs. 40 100%=4000/55 =Rs. 72.72.

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