what is meant by net price? does it include excise duty? If included, how is it claculated
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.
Not according to direct.gov.uk "When someone charges you VAT they multiply the original ('net') price of the item or service by the VAT rate to calculate the amount of VAT to charge. They then add the VAT amount to the net price to give the 'gross' price - the price you pay." http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/DG_4015895
NO
yes
net-price or sales price net price
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.
Gross sales is the total value of sales before any deductions. Net sales is what is left of the gross sales after deductions and expenses, including discounts, returns and allowances.
The gross sales priceis the price that the customer pays, including sales tax. Thenet sales priceis the price without sales tax.
On June 5, 2013 Reliance had a gross purchase of $ 2,341.20 and a gross sales of $ 2,281.20. That made their net purchases and sales $ 160.00.
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.
yes
NO
Not according to direct.gov.uk "When someone charges you VAT they multiply the original ('net') price of the item or service by the VAT rate to calculate the amount of VAT to charge. They then add the VAT amount to the net price to give the 'gross' price - the price you pay." http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/DG_4015895
1,455
Its the net realizable value
Net sales and Net Income are not of the same thing. Net sales is sales less its contra accounts (sales returns and allowances, sales discounts). On the other hand, net income or profit is net sales less the expenses.