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.
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.
yes
Net sales - CoGS = Gross Profit Gross Profit - other expenses = Net profit before tax Net profit before tax - tax amount = Net profit after tax
what is meant by net price? does it include excise duty? If included, how is it claculated
Net Sales..
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.
yes
Net sales - CoGS = Gross Profit Gross Profit - other expenses = Net profit before tax Net profit before tax - tax amount = Net profit after tax
what is meant by net price? does it include excise duty? If included, how is it claculated
Net Sales..
excluding tax
Car dealers must list "Plus sales tax" when advertising a lease. When advertising a sale they can write "Net Cost" but this is a dishonest use of the phrase. The definition of net cost is gross cost minus income received. There are still other costs such as tax, setup fees, destination, etc.
It depends on exactly what you mean, but generally, sales tax is figured on net sales. For instance, if you buy an item for $100, but you trade an item for it that is worth $25, you only pay sales tax on the difference of $75, not the entire $100.
No, the Manufacturer's Suggested Retail Price (MSRP) does not include sales tax.
sales tax is $2.33 total cost is 38.18
Yes. Gross sales = Net Sales + VAT
If the jeans cost $11.50 after the 15% sales tax, the cost of the jeans without sales tax is $10.00.