Why is VAT charged?
To generate revenue for the treasury to pay for public services, defence, government etc.
VAT is charged on clothes to raise taxes.
In the UK VAT is charged on paint.
yes we are charged vat on most things in this country, of course stamps are one of them.
Yes, VAT is charged on almost everything in South Africa. In addition, airport tax is added onto the ticket prices. VAT is charged at 14% of the base cost.
yes vat is charged on almost everything so obviously it is charged on cars in the UK
The VAT may be charged on the Annual Maintenance Contracts. VAT goes under the Comprehensive section of the contract and will be an agreed upon percentage.
VAT in the UK is a form of Tax called 'value added tax'. VAT is not charged on basic food items bought from a retail shop, however it is charged on luxury items such as chocolate biscuits. VAT is charged food bought from catering establishments such as cafe's, restaurants, fast food outlets.
Input VAT is the tax imposed on purchase whereas Output VAT is the tax charged on selling items
VAT that is charged by a business and paid by its customers is known as "output VAT" (that is, VAT on its output supplies). VAT that is paid by a business to other businesses on the supplies that it receives is known as "input VAT
VAT stands for Value Added Tax. The VAT 100 shows business how much VAT the business charged their customers, how much VAT to claim, and the total of goods that were sold in a three month period.
Assuming that we are a registered VAT vendor, when we make a purchase from a non-VAT vendor we cannot claim any VAT input from the purchase due to the fact that no VAT was charged on the supply by the supplier who is a non-VAT vendor.
Sales Tax is a tax charged on Sale of any item whereas VAT is value added tax charged on both sale & purchase.
VAT charged on concrete products such as concrete block in maharashtra
New York does NOT have a VAT, (in fact I'm not aware of any US State that does). No VAT charged, means no VAT refund. Many do use something called a sales tax (which at first may seem sort of similar to a VAT, but is really different)...and varies in many ways, jurisdiction by jurisdiction. If charged and collected, it would not be refundable in any case.
selling price / 0.15
VAT is value added tax charge on sale and purchase. Income tax is tax charged on income received.
It depends on what it is being charged on. The main VAT rate is 17.5% but the new Con-Dem Government is increasing it to 20% in January 2011.
Yes. Phone numbers beginning with this number will be charged at 4.255p (excluding VAT) or around 5p (with VAT).
oil parsley potatoes milk petrol
I have been ordering from a supplier for the past two months, But all the invoices say vat 0% on the goods but only vat charged on the shipping? We are both within the EU but I have never given a VAT number nor have I ever been asked for one?? I don't have one, but I am afraid I'll end up getting a vat bill in the door :/
VAT means Value Added Tax and is a sales tax charged in the EU and is normally included in the end-consumer retail price. Companies registered for VAT don't pay it on items and services purchased, but charge it on sold products and services and hand it up to the authorities. The VAT system has been critisised for it's openness for fraud.
In 2010, the VAT in the United Kingdom was 17.5%. It will rise to 20% on 4 January 2011. In addition to this standard rate, a reduced rate of 5% is charged for some purchases, such as children's car seats and gas and electricity for the home. No VAT is charged for most food items; for books, newspapers and magazines; for children's clothes; and for some goods provided in special circumstances - for example, equipment… Read More
no,because union list 92,92(A) has power to central govt. to levy tax on newspaper
No, MRP includes Excise & VAT only as the Octori is charged on MRP so how it can be included in it?
Eggs,bread,milk,fruits nad vegetables,fish and maize meal
Yes, They sometimes get confused because in many other countries they have something called VAT, which is not charged on exports.
food except when catered for or non essential item's e.g chocolate books drugs and medicine prescribed exports
Yes Value Added Tax (VAT) is added to the cost of a funeral as its considered providing a service. Providing a service is chargeable for VAT purposes under the current rules from HM Customs and Revenue. VAT is currently (as October 2012) charged on top of the provision of the service at 20% of the total goods or service provided.
without C form, the tax should be charged as local VAT rate applicable on the selling goods.
There is no such term as gross of VAT. The amount with VAT is called the gross amount while the net of VAT is the amount after the VAT has been deducted.
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 %
what is difference between e-vat and vat
A UK telephone number beginning with 0872 is a "special services: higher rate" number. Calls from BT landlines are charged at up to 8.5p/minute (plus VAT); calls from mobiles may be charged at up to 50p/minute.
Currently no, unless it is "advertised or held out to be for the purpose of providing entertainment, recreation or amusement; the experience of flying or the experience of flying in a particular aircraft"
for VAT on sales: Debit Receivables Credit VAT Credit Sales for VAT on purchases: Debit VAT Debit Purchases Credit Payables
A value added tax (VAT) is a form of consumption tax. It is collected by VAT-registered traders on their supplies of goods and services effected within the State, for consideration, to their customers. Generally, each such trader in the chain of supply from manufacturer through to retailer charges VAT on his or her sales* and is entitled to deduct from this amount the VAT paid on his or her purchases. A turnover tax is a… Read More
If the 545 is inclusive of VAT then the VAT element is 71.08, however if the 545 is exclusive of VAT then the VAT would be 81.75
The difference between vat exclusive and vat inclusive is that vat exclusive is the price before tax is added on. Vat inclusive is the price after tax has been added on.
no. because when customer is notpaing vat only he have vat exwmption only/
VAT is accounted for in the Balance Sheet if you have the right to claim VAT on purchases and liability to pay VAT on sales respectively i.e. if you are VAT registered. VAT on purchases is accounted for in the Profit and Loss (purchases are entered gross i.e inclusive of VAT) if you have no right to claim it i.e. if you are not VAT registered.
The temperature of the noodle vat needs to be higher than the sauce vat. The noodle vat needs to boil so that the noodles will cook. The sauce vat does not have to be boiled to be fully cooked.
What is the purpose of vat
Every time a purchase is made the VAT amount is calculated and paid by the buyer irrespective of the tax status of the individual. In cases where it is a commercial purchase the buyer will receive a VAT invoice form the seller (provided the seller is resisted as a VAT vendor with the tax authorities). The buyer will then offset the VAT portion of the purchase from the VAT to be paid over in respect… Read More
There was a vat full of butter. VAT can be an acronym for Value Added Tax.
how to calculate vat liability under works contract under delhi vat
VAT stands for the Value Added Tax. The definition of input VAT is the tax that is added to the price when you buy services or goods liable to VAT.
It carries a suggested retail price of £399 inc VAT (£332.50 ex VAT) for the 16GB model, £479 inc VAT (£399.17 ex VAT) for the 32GB model, and £559 inc VAT (£465.83 ex VAT) for the 64GB model.
See the related link for a guide on VAT and how to calculate it. You can also use a VAT calculator such as the one in the related links. *To calculate the price before VAT Use the reciprocal of the VAT percent, found as 100/(100 + VAT) e.g. for 15%, multiply by 0.87 (100/115) and that will bring you back to the approximate pre-VAT value.
Multiply the ex-VAT cell by 1.2