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How do tax payers benefit from paying taxes?
Individuals benefit from state services.
Do you pay vat if the customer is vat exempt?
no. because when customer is notpaing vat only he have vat exwmption only/
What are the types of vat in India?
There is only one type of VAT in India. VAT stands for Value Added Tax. There are however, different rates of VAT on different types of products.
Is the VAT tax on the profit margin?
VAT should not be shown in any part if the profit and loss statement, it will only appear on the balance sheet. So unless the company is not VAT registered then VAT will nit be in the margin.
Is vat a long a word?
"Vat" is not a long word; it is a short word with only three letters.
Is Road Tax VAT exempt?
VAT only applies to the purchase of products or services, it does not apply to the payment of other taxes.
How do I Calculate the gross figure when only the VAT amount is known?
Multiply the VAT figure by 5 ie: VAT amount £20 x 5 gives you a net figure of £100.00.
Are tax payers the third party payers?
yes
How does revenue from taxes impact the government?
Each governmet strives to manage economic resources. And Tax revenue in most governments is the most dependable source of such economic resources in morden economic setup Therefore depending on government's fiscal policy,tax payers will either be happy with service delivery by government or not. By and large no tax payer is happy to remit tax. Therefore as long as its law and it is enforced tax payers are made to pay, thus raising their expectations from gorvenment. Being economic players tax payers want to maximise benefit from tax paid and minimise on tax paid. Therefore each government affects tax payers to the extent that they make a balance between amount of tax liable to payers and goods and services to benefit payers. To some extent laws formed and policies drafted affect tax payers and their economic benefits.
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 %
Is VAT payable on Cash Discount portion?
No, only the disounted amount is Vatable, the cash discount is not a vatable supply, therefore no VAT is payable on it.
How do you calculate the vat figure when only the gross amount is known?
Divide by 1.whatever the rate is. ie If vat is 17.5% you would divide the gross by 1.175 to get the net figure, the vat is the difference between the two.
