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Finding Sales Tax / VAT

Aditi Enterpr...

Question

Aditi Enterprises purchased stationery for Rs. $8, 000$ and sold it to customer for Rs. $12, 000$ . Find M-VAT paid at the rate of $12 %$ by invoice method.

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Solution

VAT is applied only on purchasing cost
M-VAT $= 12 %$ of Rs. $8, 000$
$= \frac{8000 \times 12}{100}$
$=$ Rs. $960$

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