No, net sales do not include tax. It is the total amount of company sales after the deduction of returns, damaged goods and any discounts.
Net cost does not include sales tax. The net cost of an item is the cost of the item after any discounts or returns and before any tax.
what is meant by net price? does it include excise duty? If included, how is it claculated
Net Sales..
Sales Tax / Sales Tax Rate = Gross Sale
No, net sales do not include tax. It is the total amount of company sales after the deduction of returns, damaged goods and any discounts.
Net cost does not include sales tax. The net cost of an item is the cost of the item after any discounts or returns and before any tax.
what is meant by net price? does it include excise duty? If included, how is it claculated
Net Sales..
Sales Tax / Sales Tax Rate = Gross Sale
excluding tax
Net sales - CoGS = Gross Profit Gross Profit - other expenses = Net profit before tax Net profit before tax - tax amount = Net profit after tax
In HIGH SEA SALE THERE WILL NO SALES TAX IS CHARGES SINCE THE SALE IS CARRIED OUTSIDE THE TERRITORIAL JURISDICTION OF INDIA THERE WILL NOT BE SALES TAX LEVIED IN INDIA.
Whatever percent of a dollar the sales tax for your state is, multiply that by the sale price for the amount of sales tax owed. example: sales tax = 5 cents on the dollar or .05 the sale price is $10,000.00 .05x10,000=$500.00
6% sales tax
Sales Tax is a tax charged on Sale of any item whereas VAT is value added tax charged on both sale & purchase.
sale tax is a tax on sale of goods it is levied for the revenue purpose to the state government