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Nothing it's just a tax on luxury items you are importing.
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∙ 11y ago
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What do you mean by VAT Inclusive?
all included
Is vat tax included in the gross sales?
Yes. Gross sales = Net Sales + VAT
What is VAT inc?
Value Added Tax Included (in the overall price) Most businesses are exempt from VAT so sometimes the price is given Excluding VAT. VAT is currently 15%
What is a vat?
A vat is a large tank or receptacle that is used in various industries. A vat can be as big as a house or as small as a kitchen sink. A vat is used to mix ingredients of many things.
What is the difference between output vat and deferred output vat?
Deferred output tax is recorded by the seller for the sale of things on credit, and the standard output tax is recorded for the sale of things that were paid for with cash.
Is there vat in kids bikes?
yes, when they are new they have VAT included in the price. If you buy second hand from a vat registered retailer they also will have an element of VAT included. If you buy second hand from your next door neighbours aunty, its unlikely!
What do you mean by VAT Inclusive?
all included
Is vat tax included in the gross sales?
Yes. Gross sales = Net Sales + VAT
What is VAT inc?
Value Added Tax Included (in the overall price) Most businesses are exempt from VAT so sometimes the price is given Excluding VAT. VAT is currently 15%
Do you include VAT in the capitalisation of Fixed assets?
VAT is typically not included in the capitalization of fixed assets as it is considered a recoverable tax that will be offset against VAT collected. For property, plant, and equipment, the cost is usually recorded net of any VAT paid. VAT is treated as a separate tax liability or asset depending on whether it's recoverable or payable.
Is octroi is included in MRP?
No, MRP includes Excise & VAT only as the Octori is charged on MRP so how it can be included in it?
What is a vat?
A vat is a large tank or receptacle that is used in various industries. A vat can be as big as a house or as small as a kitchen sink. A vat is used to mix ingredients of many things.
Do you pay vat on beer in a pub?
Sales Tax is probably included in the price.
Is vat charged on postage stamps?
yes we are charged vat on most things in this country, of course stamps are one of them.
What is the difference between output vat and deferred output vat?
Deferred output tax is recorded by the seller for the sale of things on credit, and the standard output tax is recorded for the sale of things that were paid for with cash.
What was the lowest rate of VAT?
It depends on the legislation of the country. Some countries call VAT other things, sales tax for instance.
What is 6 percent tax?
'6 percent tax' can mean 2 things, depending whether or not the tax is inclusive. If it is not inclusive it means that you owe a further 6% of whatever your buying/receiving. For example if you're buying something for £100 and VAT (at 6%) is not included you would owe £6 to the tax man. If it is inclusive it means that 6% of whatever your buying/receiving. If you are buying something for £50 and VAT is included (at 6%) 6% would be paid to the tax man for you.
