VAT Calculation PDF
Document Details
Uploaded by CheeryCosine
University of Dhaka
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Summary
This document presents a VAT calculation, outlining output tax (OT), input tax (IT), and relevant adjustments. It shows a breakdown of import VAT, VAT from various sources (ABC, HT), and decreasing/increasing adjustments. The document concludes with a net tax calculation and a potential refund process.
Full Transcript
i ii iii iv v (i) (ii) (iii) Output Tax (OT) Input Tax (IT) =Total taxable sales x tax fraction (a) VAT at import = 300,000 =7,000,000 x 15/115 (b) From ABC = 2,500,000 x 15/115 =913,043.48...
i ii iii iv v (i) (ii) (iii) Output Tax (OT) Input Tax (IT) =Total taxable sales x tax fraction (a) VAT at import = 300,000 =7,000,000 x 15/115 (b) From ABC = 2,500,000 x 15/115 =913,043.48 = 326,086.96 (c) From HT = 200,000 x 15/115 =26,086.96 Total = 652,173.92 Net Tax = OT – IT + IA – DA = 913,043.48 - 652,173.92 + 26,086.96 - 99,130.43 = 187,826.09 Decreasing Adjustments (DA) AT = 60,000 Increasing Adjustment (IA) Goods Returned = (300,000 x =VDS from AB legal 15/115) = 39,130.43 =200,000 x 15/115 Total = 99,130.43 =26,086.96 (i) (ii) (iii) Tk. 76,600 May accord permission to treat as Commissioner will refund the amount decreasing adjustment within 3 months of application - - (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x)
