A manufacture of furniture sells a sofa set to a retailer for Rs 23000.the retailer, inturn, sells the sofa set to a customer for Rs 29000.find the VAT rate as percent,if the retailer pays Rs520 as VAT

Answer 1

Is the VAT based on the cost, or the increase in price?

Answer 2

vat means value added tax

Answer 3

yes, but I don't know the details of how it is calculated.

Answer 4

question has insufficient data

Answer 5

Is the vat calculated on the cost (23,000), like sales tax, or on the increase (6,000)?

Answer 6

yes

Answer 7

,klhk